Wakefield Asset Management LLLP Makes New Investment in International Paper (NYSE:IP)

Wakefield Asset Management LLLP purchased a new stake in shares of International Paper (NYSE:IP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,335 shares of the basic materials company’s stock, valued at approximately $502,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in shares of International Paper during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper during the 4th quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in International Paper in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the third quarter valued at approximately $28,000. Finally, Ashton Thomas Securities LLC acquired a new position in International Paper during the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $56.28 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a market cap of $19.55 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The stock has a fifty day moving average price of $55.67 and a 200 day moving average price of $52.93.

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

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio is 117.83%.

Wall Street Analyst Weigh In

IP has been the subject of a number of research analyst reports. 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. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

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.