56,887 Shares of International Paper Company $IP Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP purchased a new stake in shares of International Paper Company (NYSE:IP) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 56,887 shares of the basic materials company’s stock, valued at approximately $1,895,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IP. BlackRock Inc. acquired a new stake in International Paper during the second quarter valued at approximately $1,940,896,000. Bank of New York Mellon Corp acquired a new position in International Paper in the second quarter worth approximately $689,498,000. Atlas FRM LLC bought a new position in shares of International Paper in the second quarter valued at $374,904,000. Hill City Capital LP bought a new position in shares of International Paper in the second quarter valued at $194,310,000. Finally, Bank of America Corp DE acquired a new stake in shares of International Paper during the 2nd quarter valued at $142,802,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IP shares. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company cut their target price on International Paper from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 target price on shares of International Paper in a report on Wednesday, August 12th. Truist Financial reiterated a “buy” rating and issued a $39.00 price target (down from $41.00) on shares of International Paper in a research report on Thursday, October 29th. Finally, Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday, July 28th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus target price of $45.44.

International Paper Stock Down 1.2%

IP stock opened at $35.10 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.75. The firm has a market capitalization of $18.59 billion, a P/E ratio of 74.02, a P/E/G ratio of 5.21 and a beta of 0.97. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25. The company’s 50 day simple moving average is $34.25 and its 200-day simple moving average is $37.17.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the business posted ($0.43) EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that International Paper Company will post 1.14 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.3%. International Paper’s payout ratio is currently -28.20%.

About International Paper

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications. The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.