T. Rowe Price Investment Management Inc. Has $64.67 Million Holdings in International Paper (NYSE:IP)

T. Rowe Price Investment Management Inc. grew its stake in International Paper (NYSE:IP - Free Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,201,558 shares of the basic materials company's stock after buying an additional 17,852 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.35% of International Paper worth $64,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings 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 during the period. Vanguard Group Inc. boosted its holdings in 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 last quarter. Capital Research Global Investors boosted its holdings 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 last quarter. FMR LLC boosted 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 purchasing an additional 8,720,575 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in International Paper by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after purchasing an additional 24,816 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial reduced their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their target price on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Citigroup started 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 started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating for the company. Finally, StockNews.com cut shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.77.

International Paper Stock Performance

NYSE:IP traded down $1.51 during mid-day trading on Thursday, reaching $44.17. 2,564,044 shares of the company's stock were exchanged, compared to its average volume of 8,367,476. International Paper has a one year low of $35.13 and a one year high of $60.36. The firm has a market capitalization of $23.32 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The business's fifty day simple moving average is $50.40 and its two-hundred day simple 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 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the business posted $0.17 earnings per share. International Paper's revenue was up 27.8% compared to the same quarter last year. Analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

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.