Tower Research Capital LLC TRC Has $1.24 Million Position in International Paper (NYSE:IP)

Tower Research Capital LLC TRC lifted its position in shares of International Paper (NYSE:IP) by 15.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,121 shares of the basic materials company’s stock after buying an additional 3,015 shares during the quarter. Tower Research Capital LLC TRC’s holdings in International Paper were worth $1,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IP. Barclays PLC lifted its holdings in shares of International Paper by 4.5% during the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock worth $44,774,000 after acquiring an additional 39,404 shares during the period. Bard Financial Services Inc. acquired a new position in International Paper during the third quarter valued at approximately $305,000. World Investment Advisors LLC lifted its stake in International Paper by 6.1% during the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock worth $449,000 after purchasing an additional 529 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of International Paper in the 3rd quarter valued at $614,000. Finally, Oddo BHF Asset Management Sas bought a new position in shares of International Paper in the 3rd quarter valued at $895,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP opened at $47.67 on Friday. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The stock has a market cap of $25.16 billion, a P/E ratio of 30.36, a P/E/G ratio of 0.39 and a beta of 0.99. The business’s fifty day moving average is $51.17 and its 200 day moving average is $53.53. 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 (NYSE:IP) last posted its earnings results 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 return on equity of 4.75% and a net margin of 2.99%. Sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is currently 117.83%.

Analysts Set New Price Targets

A number of brokerages have weighed in on IP. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. 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 objective on the stock. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.77.

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.