Picton Mahoney Asset Management Increases Position in International Paper (NYSE:IP)

Picton Mahoney Asset Management boosted its holdings in International Paper (NYSE:IP) by 67.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 536 shares of the basic materials company’s stock after purchasing an additional 215 shares during the quarter. Picton Mahoney Asset Management’s holdings in International Paper were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IP. Brooklyn Investment Group purchased a new stake in International Paper in the third quarter worth about $25,000. Sierra Ocean LLC purchased a new stake in shares of International Paper during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper during the fourth quarter valued at approximately $26,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper during the third quarter valued at approximately $28,000. Finally, Versant Capital Management Inc grew its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IP shares. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $54.86.

International Paper Trading Up 0.4 %

Shares of IP stock opened at $51.59 on Tuesday. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $55.14 and its 200 day moving average is $53.39. The stock has a market capitalization of $27.14 billion, a P/E ratio of 32.86, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.