International Paper (NYSE:IP) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of International Paper (NYSE:IP) by 11.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 619,287 shares of the basic materials company’s stock after buying an additional 65,702 shares during the quarter. American Century Companies Inc.’s holdings in International Paper were worth $33,330,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after buying an additional 99,720 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after acquiring an additional 2,484,386 shares in the last quarter. Artemis Investment Management LLP increased its stake 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 acquiring an additional 1,202,632 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in International Paper by 2.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company’s stock worth $97,686,000 after purchasing an additional 42,151 shares in the last quarter. Finally, Hill City Capital LP lifted its position in International Paper by 287.5% in the third quarter. Hill City Capital LP now owns 1,550,000 shares of the basic materials company’s stock valued at $75,718,000 after purchasing an additional 1,150,000 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Truist Financial reiterated a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Stock Performance

NYSE:IP opened at $53.23 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 company has a market capitalization of $28.01 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. The firm has a 50-day moving average price of $54.86 and a two-hundred day moving average price of $53.67. International Paper has a twelve month low of $33.16 and a twelve month high of $60.36.

International Paper (NYSE:IP) last issued 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 return on equity of 4.75% and a net margin of 2.99%. As a group, research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

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

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.