DRW Securities LLC Buys Shares of 3,736 International Paper (NYSE:IP)

DRW Securities LLC purchased a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,736 shares of the basic materials company’s stock, valued at approximately $201,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC raised its stake in International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares during the period. Norges Bank purchased a new stake in shares of International Paper in the fourth quarter worth $109,201,000. Artemis Investment Management LLP raised its position in shares of International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after purchasing an additional 1,202,632 shares during the period. Clearbridge Investments LLC lifted its stake in shares of International Paper by 645.6% during the 4th quarter. Clearbridge Investments LLC now owns 577,453 shares of the basic materials company’s stock valued at $31,079,000 after buying an additional 500,001 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in International Paper in the 3rd quarter worth $24,327,000. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IP shares. Wells Fargo & Company decreased their price target on International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating on the stock. Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Trading Up 1.4 %

IP stock opened at $46.86 on Friday. The firm has a fifty day moving average price of $52.76 and a 200 day moving average price of $53.68. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The firm has a market cap of $24.74 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. 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 released its quarterly earnings data 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%. Sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.95%. International Paper’s dividend payout ratio is currently 117.83%.

About International Paper

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.