International Paper (NYSE:IP) Shares Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC increased its position in shares of International Paper (NYSE:IP - Free Report) by 93.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 139,685 shares of the basic materials company's stock after buying an additional 67,503 shares during the quarter. Lighthouse Investment Partners LLC's holdings in International Paper were worth $7,518,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of International Paper by 0.8% in the fourth 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 buying an additional 368,648 shares in the last quarter. Vanguard Group Inc. grew its position in 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 acquiring an additional 340,383 shares in the last quarter. Capital Research Global Investors increased its stake in International Paper by 68.8% during the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after purchasing an additional 12,191,361 shares during the period. FMR LLC lifted its position in shares of 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 purchasing an additional 8,720,575 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of International Paper by 0.3% in the fourth 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 period. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Truist Financial reduced their price target on International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com downgraded International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $54.21.

International Paper Stock Performance

Shares of NYSE IP traded up $0.57 during trading hours on Friday, reaching $50.14. The stock had a trading volume of 5,154,511 shares, compared to its average volume of 8,089,090. The firm has a 50-day moving average of $48.70 and a 200-day moving average of $53.38. The firm has a market cap of $26.47 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 0.39 and a beta of 1.03. 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 has a fifty-two week low of $40.39 and a fifty-two week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm 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%. International Paper's revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. Equities research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.69%. International Paper's payout ratio is 158.12%.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.35% of the company's stock.

International Paper Company 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.