International Paper (NYSE:IP) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of International Paper (NYSE:IP) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 619,287 shares of the basic materials company’s stock after acquiring an additional 65,702 shares during the quarter. American Century Companies Inc. owned approximately 0.18% of International Paper worth $33,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. raised its position in International Paper by 511.1% in the third 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 period. Artemis Investment Management LLP increased its position in shares of International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after purchasing an additional 1,202,632 shares during the last quarter. Hill City Capital LP raised its holdings in International Paper by 287.5% in the 3rd quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after buying an additional 1,150,000 shares during the period. Lord Abbett & CO. LLC acquired a new position in International Paper in the third quarter valued at about $24,327,000. Finally, Two Sigma Advisers LP purchased a new position in shares of International Paper during the 3rd quarter worth approximately $24,151,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 2.5 %

NYSE IP opened at $53.23 on Friday. The firm’s fifty day moving average price is $54.86 and its 200 day moving average price is $53.67. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued 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%. On average, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

Analysts Set New Price Targets

IP has been the subject of a number of research analyst reports. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.32.

About International Paper

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.