190,000 Shares in International Paper (NYSE:IP) Acquired by Tribune Investment Group LP

Tribune Investment Group LP purchased a new stake in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 190,000 shares of the basic materials company’s stock, valued at approximately $10,226,000. International Paper comprises about 5.7% of Tribune Investment Group LP’s investment portfolio, making the stock its 3rd biggest position. Tribune Investment Group LP owned 0.05% of International Paper as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after acquiring an additional 340,383 shares during the period. FMR LLC grew its stake in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares during the period. Geode Capital Management LLC increased its position in shares of International Paper by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock valued at $450,586,000 after purchasing an additional 24,816 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of International Paper by 2.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,685 shares of the basic materials company’s stock worth $181,410,000 after purchasing an additional 74,759 shares during the period. Finally, Norges Bank purchased a new position in shares of International Paper in the fourth quarter worth approximately $109,201,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IP shares. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Finally, Citigroup initiated coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Stock Up 1.4 %

Shares of IP opened at $46.86 on Monday. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The firm has a market capitalization of $24.74 billion, a P/E ratio of 29.85, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a 50-day simple moving average of $52.76 and a 200-day simple moving average of $53.71. 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 quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) 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, equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Monday, February 24th. International Paper’s 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.