First Trust Advisors LP Has $23.66 Million Holdings in International Paper (NYSE:IP)

First Trust Advisors LP increased its position in International Paper (NYSE:IP) by 125.8% in the fourth quarter, HoldingsChannel reports. The firm owned 439,576 shares of the basic materials company’s stock after acquiring an additional 244,875 shares during the period. First Trust Advisors LP’s holdings in International Paper were worth $23,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of International Paper by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock worth $2,217,119,000 after purchasing an additional 340,383 shares during the period. FMR LLC boosted its stake in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after buying an additional 8,720,575 shares during the period. Geode Capital Management LLC grew its holdings in shares of International Paper by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock valued at $450,586,000 after acquiring an additional 24,816 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of International Paper by 2.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,685 shares of the basic materials company’s stock worth $181,410,000 after acquiring an additional 74,759 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of International Paper during the fourth quarter worth $109,201,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Performance

NYSE IP opened at $47.42 on Friday. International Paper has a 52-week low of $33.28 and a 52-week high of $60.36. 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 firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 0.39 and a beta of 0.99. The company’s fifty day moving average is $50.97 and its two-hundred day moving average is $53.53.

International Paper (NYSE:IP) last issued its earnings results 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 return on equity of 4.75% and a net margin of 2.99%. Equities research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.90%. International Paper’s dividend payout ratio (DPR) is currently 117.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IP shares. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a report on Friday, March 28th. Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Wells Fargo & Company cut 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 report on Tuesday, April 8th. Finally, Truist Financial decreased their price objective on shares of International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.77.

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.