Alpine Global Management LLC Acquires Shares of 9,310 International Paper (NYSE:IP)

Alpine Global Management LLC purchased a new position in shares of International Paper (NYSE:IP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,310 shares of the basic materials company's stock, valued at approximately $501,000.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of International Paper by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock valued at $2,561,651,000 after purchasing an additional 368,648 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock valued at $2,217,119,000 after purchasing an additional 340,383 shares during the last quarter. Capital Research Global Investors grew its stake in shares of International Paper by 68.8% in the 4th 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 during the last quarter. FMR LLC grew its stake in shares of International Paper by 48.9% in 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 purchasing an additional 8,720,575 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of International Paper by 0.3% in 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 purchasing an additional 24,816 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Bank of America started coverage on International Paper in a research report on Thursday, February 13th. They set a "neutral" rating for the company. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $40.00 target price (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.86.

International Paper Price Performance

NYSE IP traded up $0.90 during trading hours on Tuesday, reaching $48.57. 3,051,832 shares of the company's stock were exchanged, compared to its average volume of 7,794,696. The stock has a market cap of $25.64 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. International Paper has a one year low of $41.50 and a one year high of $60.36. The firm has a fifty day moving average of $48.41 and a 200-day moving average of $53.06. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last posted 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 company 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 business's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. On average, equities research analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's payout ratio is currently 158.12%.

Insider Buying and Selling

In other news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

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.