Lee Danner & Bass Inc. Invests $73,000 in International Paper (NYSE:IP)

Lee Danner & Bass Inc. acquired a new position in shares of International Paper (NYSE:IP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,350 shares of the basic materials company’s stock, valued at approximately $73,000.

A number of other hedge funds also recently made changes to their positions in the stock. Arvest Investments Inc. acquired a new stake in International Paper during the fourth quarter worth approximately $1,819,000. Royal London Asset Management Ltd. grew its stake in International Paper by 1.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 287,020 shares of the basic materials company’s stock worth $15,447,000 after purchasing an additional 5,040 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in International Paper during the fourth quarter worth approximately $726,000. Intech Investment Management LLC grew its stake in International Paper by 117.7% during the fourth quarter. Intech Investment Management LLC now owns 15,970 shares of the basic materials company’s stock worth $860,000 after purchasing an additional 8,633 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new stake in International Paper during the fourth quarter worth approximately $3,092,000. 81.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on IP shares. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday. They issued an “overweight” rating and a $59.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup assumed coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Stock Down 1.9 %

IP stock opened at $51.29 on Friday. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $54.96 and its 200-day moving average is $53.46. The firm has a market capitalization of $26.99 billion, a PE ratio of 32.67, a P/E/G ratio of 0.39 and a beta of 1.02.

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

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.61%. International Paper’s dividend payout ratio (DPR) is currently 117.83%.

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.