Dark Forest Capital Management LP Has $609,000 Stake in International Paper (NYSE:IP)

Dark Forest Capital Management LP boosted its holdings in shares of International Paper (NYSE:IP - Free Report) by 88.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,310 shares of the basic materials company's stock after acquiring an additional 5,312 shares during the period. Dark Forest Capital Management LP's holdings in International Paper were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Capital Research Global Investors grew its position in International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares in the last quarter. FMR LLC raised its holdings in International Paper by 48.9% during the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares in the last quarter. Norges Bank acquired a new position in International Paper during the fourth quarter valued at approximately $109,201,000. Slate Path Capital LP bought a new position in International Paper in the fourth quarter valued at approximately $102,796,000. Finally, Artemis Investment Management LLP increased its position in shares of International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company's stock worth $108,706,000 after purchasing an additional 1,202,632 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped 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 reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Paper presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.77.

International Paper Stock Performance

Shares of IP stock traded down $1.46 on Thursday, hitting $44.22. The company's stock had a trading volume of 2,018,003 shares, compared to its average volume of 8,361,367. International Paper has a fifty-two week low of $35.13 and a fifty-two week high of $60.36. The company has a market capitalization of $23.34 billion, a PE ratio of 28.17, a PEG ratio of 0.39 and a beta of 0.99. The stock's 50 day moving average is $50.40 and its 200-day moving average is $53.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Equities research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

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.