QRG Capital Management Inc. Boosts Stake in International Paper (NYSE:IP)

QRG Capital Management Inc. raised its position in shares of International Paper (NYSE:IP) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 292,880 shares of the basic materials company’s stock after acquiring an additional 13,592 shares during the period. QRG Capital Management Inc. owned approximately 0.08% of International Paper worth $15,763,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IP. FMR LLC lifted its stake in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of International Paper during the third quarter worth about $84,526,000. Finally, Artemis Investment Management LLP lifted its stake in shares of International Paper by 147.2% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Trading Up 1.0 %

Shares of NYSE IP opened at $56.28 on Friday. The stock’s 50 day moving average price is $55.67 and its two-hundred day moving average price is $52.93. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The stock has a market capitalization of $19.55 billion, a P/E ratio of 35.85, a PEG ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS 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%. On average, analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s dividend payout ratio (DPR) 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.