Generali Asset Management SPA SGR Invests $3.09 Million in International Paper (NYSE:IP)

Generali Asset Management SPA SGR purchased a new position in International Paper (NYSE:IP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,443 shares of the basic materials company’s stock, valued at approximately $3,092,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC raised its holdings in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares during the period. Geode Capital Management LLC increased its holdings in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after purchasing an additional 99,720 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in International Paper by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after purchasing an additional 9,774 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after purchasing an additional 537,825 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in 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 purchasing an additional 2,484,386 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the topic of several recent research reports. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $64.00 target price (down previously 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 target price on shares of International Paper in a research report on Friday, January 31st. Finally, Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.86.

International Paper Stock Performance

Shares of IP stock opened at $52.70 on Thursday. The firm has a market capitalization of $27.73 billion, a price-to-earnings ratio of 33.57, 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. The business has a fifty day moving average of $55.07 and a 200 day moving average of $53.41. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36.

International Paper (NYSE:IP) last issued 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%. As a group, 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 announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.51%. International Paper’s dividend payout ratio (DPR) 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.