International Paper (NYSE:IP) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its holdings in shares of International Paper (NYSE:IP) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,070 shares of the basic materials company’s stock after purchasing an additional 1,135 shares during the period. Brown Brothers Harriman & Co.’s holdings in International Paper were worth $1,242,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IP. Point72 Asset Management L.P. boosted its stake in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after acquiring an additional 2,484,386 shares in the last quarter. Norges Bank acquired a new position in shares of International Paper in the 4th quarter valued at $109,201,000. Artemis Investment Management LLP boosted its position in shares of 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 purchasing an additional 1,202,632 shares during the period. Hill City Capital LP increased its stake 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 worth $75,718,000 after purchasing an additional 1,150,000 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in International Paper during the third quarter valued at about $24,327,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Down 2.5 %

IP opened at $53.23 on Monday. The company has a market capitalization of $28.01 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. 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 has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The business has a 50-day moving average of $54.86 and a 200-day moving average of $53.76.

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

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Wall Street Analysts Forecast Growth

IP has been the topic of several analyst reports. Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Truist Financial reissued a “buy” rating and set a $64.00 price target (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 report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective for the company. 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 issued a strong buy rating to the company. Based on data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $55.32.

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.