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

OLD Mission Capital LLC acquired a new position in International Paper (NYSE:IP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 59,303 shares of the basic materials company’s stock, valued at approximately $3,192,000.

Several other large investors also recently added to or reduced their stakes in IP. Sierra Ocean LLC bought a new stake in International Paper during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper during the 4th quarter valued at about $26,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper during the 3rd quarter valued at approximately $28,000. Picton Mahoney Asset Management increased its holdings in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IP has been the subject of a number of recent analyst reports. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Citigroup began coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. began coverage on International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Stock Performance

NYSE:IP opened at $53.62 on Wednesday. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The stock’s 50 day simple moving average is $54.69 and its two-hundred day simple moving average is $53.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

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

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is 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.