SageView Advisory Group LLC Grows Stake in International Paper (NYSE:IP)

SageView Advisory Group LLC raised its position in International Paper (NYSE:IP) by 21.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,502 shares of the basic materials company’s stock after acquiring an additional 2,404 shares during the quarter. SageView Advisory Group LLC’s holdings in International Paper were worth $727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new stake in shares of International Paper during the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the 4th quarter valued at about $26,000. Picton Mahoney Asset Management grew its stake in International Paper by 67.0% during the 4th 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. Versant Capital Management Inc lifted its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IP. JPMorgan Chase & Co. started coverage on International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective for the company. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Finally, StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Trading Up 1.6 %

NYSE IP opened at $47.61 on Tuesday. International Paper has a one year low of $33.16 and a one year high of $60.36. The firm has a market capitalization of $25.13 billion, a price-to-earnings ratio of 30.33, a PEG 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. The company’s 50 day moving average price is $52.63 and its 200 day moving average price is $53.70.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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, sell-side analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.89%. International Paper’s dividend payout ratio (DPR) is presently 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.