Colrain Capital LLC Buys Shares of 80,750 International Paper (NYSE:IP)

Colrain Capital LLC purchased a new position in International Paper (NYSE:IP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 80,750 shares of the basic materials company’s stock, valued at approximately $4,346,000. International Paper accounts for approximately 4.3% of Colrain Capital LLC’s portfolio, making the stock its 7th largest position.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. Geode Capital Management LLC grew its position in International Paper by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after buying an additional 99,720 shares in the last quarter. Point72 Asset Management L.P. increased its stake in International Paper by 511.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after acquiring an additional 2,484,386 shares during the last quarter. Norges Bank bought a new stake in shares of International Paper during the 4th quarter valued at about $109,201,000. Finally, Artemis Investment Management LLP grew its holdings in shares of International Paper by 147.2% during the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after purchasing an additional 1,202,632 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IP shares. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. Bank of America started coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target 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 issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

International Paper Price Performance

Shares of International Paper stock opened at $53.23 on Monday. The company has a market cap of $28.01 billion, a PE ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02. The business has a 50 day moving average of $54.86 and a 200 day moving average of $53.76. International Paper has a 52 week low of $33.16 and a 52 week 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.

International Paper (NYSE:IP) last announced 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%. As a group, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

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.