International Paper (NYSE:IP) Shares Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP boosted its position in shares of International Paper (NYSE:IP) by 88.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,310 shares of the basic materials company’s stock after acquiring an additional 5,312 shares during the period. Dark Forest Capital Management LP’s holdings in International Paper were worth $609,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sierra Ocean LLC purchased a new stake in International Paper during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in International Paper during the fourth quarter worth approximately $26,000. Picton Mahoney Asset Management lifted its position in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after buying an additional 215 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after buying an additional 295 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE IP opened at $47.42 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market cap of $25.03 billion, a PE ratio of 30.20, a P/E/G ratio of 0.39 and a beta of 0.99. The stock has a fifty day moving average price of $50.97 and a 200 day moving average price of $53.53. International Paper has a 1-year low of $33.28 and a 1-year high of $60.36.

International Paper (NYSE:IP) last released its 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%. Sell-side analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of research reports. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Wells Fargo & Company reduced their price objective on International Paper from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.77.

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.