Dark Forest Capital Management LP Increases Stake in International Paper (NYSE:IP)

Dark Forest Capital Management LP grew its holdings in shares of International Paper (NYSE:IP) by 88.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,310 shares of the basic materials company’s stock after purchasing an additional 5,312 shares during the quarter. Dark Forest Capital Management LP’s holdings in International Paper were worth $609,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Barclays PLC grew its position in shares of International Paper by 4.5% in the third quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock valued at $44,774,000 after purchasing an additional 39,404 shares in the last quarter. Bard Financial Services Inc. purchased a new stake in International Paper in the 3rd quarter valued at $305,000. World Investment Advisors LLC increased its stake in shares of International Paper by 6.1% in the 3rd quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 529 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of International Paper during the 3rd quarter worth $614,000. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of International Paper during the 3rd quarter valued at about $895,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IP. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective for the company. Wells Fargo & Company reduced their price target on shares of International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Truist Financial reduced their target price on International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.77.

International Paper Stock Performance

Shares of International Paper stock opened at $47.42 on Friday. The stock has a market capitalization of $25.03 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business has a 50-day moving average of $50.97 and a 200 day moving average of $53.53. International Paper has a 12 month low of $33.28 and a 12 month high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings data 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%. As a group, sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is currently 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.