International Paper (NYSE:IP) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC grew its stake in International Paper (NYSE:IP) by 55.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,533 shares of the basic materials company’s stock after purchasing an additional 7,325 shares during the period. Sterling Capital Management LLC’s holdings in International Paper were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IP. Sierra Ocean LLC purchased a new position in International Paper during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper during the 4th quarter valued at approximately $26,000. Picton Mahoney Asset Management lifted its position in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares in the last quarter. Versant Capital Management Inc grew its stake in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings 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 worth $33,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 1.5 %

NYSE IP opened at $46.87 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The business’s fifty day simple moving average is $52.46 and its 200-day simple moving average is $53.66. The firm has a market cap of $24.74 billion, a PE ratio of 29.85, a P/E/G ratio of 0.39 and a beta of 0.99.

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

International Paper Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on IP shares. Bank of America started 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 reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Wells Fargo & Company lowered their price target on International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup initiated coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. One 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, International Paper currently 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.