International Paper (NYSE:IP) Position Boosted by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in International Paper (NYSE:IP) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,880 shares of the basic materials company’s stock after buying an additional 13,592 shares during the quarter. QRG Capital Management Inc.’s holdings in International Paper were worth $15,763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in International Paper by 28.7% in the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after buying an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in International Paper during the 3rd quarter valued at $24,327,000. Aptus Capital Advisors LLC boosted its stake in International Paper by 15.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 785 shares in the last quarter. Wedmont Private Capital bought a new position in International Paper during the 4th quarter valued at $376,000. Finally, Curi RMB Capital LLC bought a new position in International Paper during the 3rd quarter valued at $4,870,000. 81.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IP. 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 Friday, January 31st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a report on Wednesday, November 13th. Truist Financial restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

International Paper Price Performance

IP opened at $56.28 on Friday. The stock has a market cap of $19.55 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $55.67 and a 200 day moving average price of $52.93.

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

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. International Paper’s payout ratio is 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.