O Shaughnessy Asset Management LLC Increases Stock Position in International Paper (NYSE:IP)

O Shaughnessy Asset Management LLC raised its holdings in shares of International Paper (NYSE:IP) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,922 shares of the basic materials company’s stock after purchasing an additional 1,148 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in International Paper were worth $4,248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IP. Pacer Advisors Inc. lifted its position in shares of International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after purchasing an additional 7,424 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in International Paper during the 3rd quarter worth approximately $24,327,000. Wedmont Private Capital acquired a new position in shares of International Paper in the 4th quarter worth approximately $376,000. Everence Capital Management Inc. bought a new stake in shares of International Paper in the 4th quarter valued at approximately $828,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after purchasing an additional 15,904 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Up 1.6 %

International Paper stock opened at $54.51 on Thursday. The firm has a market cap of $28.68 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth 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 firm’s 50 day moving average price is $54.62 and its two-hundred day moving average price is $53.84. 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 (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) 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%. On average, research analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IP. Truist Financial reissued a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target for the company. Finally, Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently 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.