Y Intercept Hong Kong Ltd Acquires New Holdings in International Paper (NYSE:IP)

Y Intercept Hong Kong Ltd acquired a new stake in International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 38,033 shares of the basic materials company’s stock, valued at approximately $2,047,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IP. FMR LLC lifted its stake in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after purchasing an additional 2,484,386 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after acquiring an additional 2,354,341 shares during the period. Ceredex Value Advisors LLC acquired a new position in International Paper in the 3rd quarter valued at approximately $84,526,000. Finally, Artemis Investment Management LLP increased its position in International Paper by 147.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after acquiring an additional 1,202,632 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 0.4 %

IP opened at $55.33 on Tuesday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $55.58 and a 200-day moving average of $52.81. The stock has a market cap of $19.22 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last posted 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 return on equity of 4.75% and a net margin of 2.99%. On average, sell-side analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is 117.83%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IP. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research report on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at approximately $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.