Quantessence Capital LLC Takes Position in International Paper (NYSE:IP)

Quantessence Capital LLC acquired a new position in International Paper (NYSE:IP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 207,090 shares of the basic materials company’s stock, valued at approximately $11,146,000. International Paper comprises about 4.6% of Quantessence Capital LLC’s holdings, making the stock its 2nd largest holding. Quantessence Capital LLC owned about 0.06% of International Paper at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IP. Pacer Advisors Inc. raised its holdings in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after buying an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new position in International Paper in the third quarter valued at approximately $24,327,000. Wedmont Private Capital acquired a new position in International Paper in the fourth quarter valued at $376,000. Everence Capital Management Inc. acquired a new position in International Paper during the fourth quarter worth approximately $828,000. Finally, Allspring Global Investments Holdings LLC grew its position in International Paper by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after purchasing an additional 15,904 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price for the company. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Truist Financial reissued a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Stock Down 2.5 %

Shares of NYSE IP opened at $45.14 on Tuesday. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market cap of $23.83 billion, a P/E ratio of 28.75, a P/E/G ratio of 0.39 and a beta of 0.99. The firm has a 50 day moving average price of $51.71 and a 200 day moving average price of $53.62.

International Paper (NYSE:IP) last announced its quarterly earnings data 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 net margin of 2.99% and a return on equity of 4.75%. Analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

International Paper Profile

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.