CMC Financial Group Takes Position in International Paper (NYSE:IP)

CMC Financial Group bought a new stake in shares of International Paper (NYSE:IP) in the fourth quarter, Holdings Channel reports. The institutional investor bought 4,042 shares of the basic materials company’s stock, valued at approximately $218,000. International Paper comprises about 0.5% of CMC Financial Group’s holdings, making the stock its 27th biggest holding.

A number of other institutional investors also recently bought and sold shares of IP. Brooklyn Investment Group bought a new stake in International Paper in the third quarter worth $25,000. Sierra Ocean LLC bought a new stake in International Paper in the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in International Paper in the fourth quarter worth $26,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the third quarter worth $28,000. Finally, Picton Mahoney Asset Management lifted its position in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after buying an additional 215 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of International Paper stock opened at $51.29 on Monday. The firm has a market cap of $26.99 billion, a P/E ratio of 32.67, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The stock’s fifty day moving average price is $54.96 and its 200-day moving average price is $53.50.

International Paper (NYSE:IP) last announced its quarterly 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, equities research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 3.61%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. Bank of America assumed coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday. They set an “overweight” rating and a $59.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Company 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.