International Paper (NYSE:IP) Stock Position Lifted by Assetmark Inc.

Assetmark Inc. lifted its holdings in International Paper (NYSE:IP) by 79.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,130 shares of the basic materials company’s stock after purchasing an additional 946 shares during the quarter. Assetmark Inc.’s holdings in International Paper were worth $115,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of IP. First Horizon Advisors Inc. boosted its stake in International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after buying an additional 177 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in International Paper by 5.7% during the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after buying an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after buying an additional 205 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after buying an additional 212 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after buying an additional 224 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 2.1 %

Shares of International Paper stock opened at $51.44 on Friday. The stock has a 50-day moving average price of $55.18 and a 200 day moving average price of $53.30. The company has a market cap of $27.06 billion, a P/E ratio of 32.76, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. As a group, analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Wall Street Analyst Weigh In

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

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.