Proficio Capital Partners LLC Makes New $9.06 Million Investment in International Paper (NYSE:IP)

Proficio Capital Partners LLC bought a new position in International Paper (NYSE:IP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 168,403 shares of the basic materials company’s stock, valued at approximately $9,063,000.

Other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares during the period. Point72 Asset Management L.P. raised its position in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after buying an additional 2,484,386 shares during the period. Artemis Investment Management LLP raised 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 valued at $108,706,000 after buying an additional 1,202,632 shares during the period. Hill City Capital LP raised its position in shares of International Paper by 287.5% during the 3rd quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after buying an additional 1,150,000 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of International Paper by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after buying an additional 537,825 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

NYSE:IP opened at $51.44 on Friday. The company has a fifty day simple moving average of $55.18 and a two-hundred day simple moving average of $53.33. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.60%. International Paper’s payout ratio is currently 117.83%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup began coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Finally, Bank of America began coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Paper has an average rating of “Moderate Buy” and an average target price of $54.86.

About International Paper

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.