2,117,805 Shares in International Paper Company (NYSE:IP) Acquired by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP has acquired 2,117,805 shares of International Paper Company (NYSE:IP), valued at approximately $112.9 million, making up about 0.40% of the company's total stock.
• Analysts have varying ratings for International Paper, with a consensus price target of $55.65 and six analysts giving it a "buy" rating, while two rate it as a "sell."
• International Paper announced a quarterly dividend of $0.4625 per share, representing a 4.0% dividend yield and a payout ratio of 158.12%.

Westfield Capital Management Co. LP bought a new position in International Paper Company (NYSE:IP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,117,805 shares of the basic materials company's stock, valued at approximately $112,985,000. Westfield Capital Management Co. LP owned about 0.40% of International Paper at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. World Investment Advisors grew its position in International Paper by 25.9% in the fourth quarter. World Investment Advisors now owns 11,572 shares of the basic materials company's stock worth $623,000 after acquiring an additional 2,381 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in International Paper in the fourth quarter worth about $5,358,000. Aster Capital Management DIFC Ltd purchased a new position in International Paper in the fourth quarter worth about $60,000. FMR LLC grew its position in International Paper by 48.9% in 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. Finally, Cerity Partners LLC grew its position in International Paper by 8.2% in the fourth quarter. Cerity Partners LLC now owns 41,175 shares of the basic materials company's stock worth $2,139,000 after acquiring an additional 3,125 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IP shares. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price target (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Tuesday. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday, May 28th. UBS Group assumed coverage on International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. Finally, Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, International Paper currently has an average rating of "Hold" and an average price target of $55.03.

International Paper Trading Up 3.9%

Shares of NYSE IP traded up $1.82 during trading hours on Thursday, reaching $48.15. The stock had a trading volume of 3,358,795 shares, compared to its average volume of 6,660,346. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $25.42 billion, a price-to-earnings ratio of -481.50, a P/E/G ratio of 0.53 and a beta of 1.04. The business's fifty day moving average price is $49.11 and its two-hundred day moving average price is $50.61. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm's revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. Analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.8%. International Paper's payout ratio is -1,850.00%.

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.