CANADA LIFE ASSURANCE Co Purchases 25,037 Shares of International Paper (NYSE:IP)

CANADA LIFE ASSURANCE Co lifted its position in shares of International Paper (NYSE:IP) by 6.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 403,824 shares of the basic materials company’s stock after purchasing an additional 25,037 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in International Paper were worth $21,715,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. SPC Financial Inc. boosted its position in shares of International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after acquiring an additional 200 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of International Paper by 5.7% during the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 204 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of International Paper by 1.7% in the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock worth $665,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of International Paper by 14.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after buying an additional 205 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after buying an additional 212 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating on the stock. Truist Financial reiterated a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Wells Fargo & Company reduced their target price on shares of International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Finally, StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Trading Up 0.0 %

IP opened at $46.32 on Friday. International Paper has a one year low of $33.16 and a one year high of $60.36. 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 stock has a market cap of $24.45 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 0.39 and a beta of 0.99. The stock’s 50 day moving average price is $51.90 and its 200-day moving average price is $53.61.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share 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%. On average, equities analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Monday, February 24th. 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.