Slate Path Capital LP Makes New $102.80 Million Investment in International Paper (NYSE:IP)

Slate Path Capital LP purchased a new stake in shares of International Paper (NYSE:IP) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,910,000 shares of the basic materials company’s stock, valued at approximately $102,796,000. International Paper comprises approximately 1.9% of Slate Path Capital LP’s portfolio, making the stock its 23rd largest holding.

Several other large investors have also recently modified their holdings of the stock. Sierra Ocean LLC bought a new stake in International Paper during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new stake in shares of International Paper during the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management raised its holdings in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Versant Capital Management Inc lifted its position in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

IP has been the topic of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Finally, Truist Financial reissued a “buy” rating and set a $64.00 price target (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average price target of $55.32.

International Paper Price Performance

Shares of NYSE:IP opened at $45.14 on Tuesday. The firm’s 50 day simple moving average is $51.71 and its two-hundred day simple moving average is $53.62. 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 company has a market capitalization of $23.83 billion, a P/E ratio of 28.75, a P/E/G ratio of 0.39 and a beta of 0.99. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results 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 net margin of 2.99% and a return on equity of 4.75%. Research analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is currently 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.