Brown Brothers Harriman & Co. Purchases 1,135 Shares of International Paper (NYSE:IP)

Brown Brothers Harriman & Co. lifted its holdings in International Paper (NYSE:IP) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,070 shares of the basic materials company’s stock after purchasing an additional 1,135 shares during the period. Brown Brothers Harriman & Co.’s holdings in International Paper were worth $1,242,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in International Paper by 0.8% in 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 during the period. Geode Capital Management LLC raised its position in shares of 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 valued at $407,463,000 after buying an additional 99,720 shares during the last quarter. Point72 Asset Management L.P. lifted its stake 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 buying an additional 2,484,386 shares during the period. Norges Bank acquired a new stake in International Paper during the fourth quarter worth about $109,201,000. Finally, Artemis Investment Management LLP increased its stake in 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 valued at $108,706,000 after acquiring an additional 1,202,632 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

NYSE:IP opened at $53.23 on Monday. 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 firm has a market cap of $28.01 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The company’s 50-day moving average price is $54.86 and its two-hundred day moving average price is $53.76.

International Paper (NYSE:IP) last announced 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%. On average, equities analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a dividend of $0.4625 per share. 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 payout ratio is presently 117.83%.

Analysts Set New Price Targets

IP has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Truist Financial reiterated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup began 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 for the company. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Finally, StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

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.