Mizuho Securities USA LLC Acquires 10,401 Shares of International Paper (NYSE:IP)

Mizuho Securities USA LLC boosted its stake in shares of International Paper (NYSE:IP) by 46.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,926 shares of the basic materials company’s stock after buying an additional 10,401 shares during the quarter. Mizuho Securities USA LLC’s holdings in International Paper were worth $1,772,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IP. Brooklyn Investment Group bought a new position in shares of International Paper during the 3rd quarter valued at approximately $25,000. Sierra Ocean LLC bought a new position in International Paper during the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper in the fourth quarter worth $26,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the third quarter worth $28,000. Finally, Picton Mahoney Asset Management raised its stake in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IP. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. StockNews.com upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada reissued 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, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Trading Up 3.1 %

International Paper stock opened at $52.99 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The stock has a market cap of $27.88 billion, a P/E ratio of 33.75, a PEG ratio of 0.39 and a beta of 1.02. The firm’s fifty day moving average price is $54.94 and its 200-day moving average price is $53.54.

International Paper (NYSE:IP) last announced 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 return on equity of 4.75% and a net margin of 2.99%. Equities research analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.49%. International Paper’s payout ratio is presently 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.