Deprince Race & Zollo Inc. Buys 20,443 Shares of International Paper Co (IP)

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Deprince Race & Zollo Inc. boosted its stake in shares of International Paper Co (NYSE:IP) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 558,255 shares of the basic materials company’s stock after acquiring an additional 20,443 shares during the quarter. Deprince Race & Zollo Inc. owned 0.14% of International Paper worth $22,531,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Webster Bank N. A. boosted its stake in shares of International Paper by 64.6% in the fourth quarter. Webster Bank N. A. now owns 7,645 shares of the basic materials company’s stock worth $308,000 after acquiring an additional 3,000 shares during the last quarter. American Trust Investment Advisors LLC boosted its stake in shares of International Paper by 59.2% in the fourth quarter. American Trust Investment Advisors LLC now owns 60,850 shares of the basic materials company’s stock worth $2,456,000 after acquiring an additional 22,635 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of International Paper by 5.5% in the third quarter. Commonwealth Bank of Australia now owns 68,809 shares of the basic materials company’s stock worth $3,375,000 after acquiring an additional 3,600 shares during the last quarter. Evermay Wealth Management LLC acquired a new stake in shares of International Paper in the third quarter worth approximately $211,000. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of International Paper in the third quarter worth approximately $5,581,000. Institutional investors own 80.78% of the company’s stock.

NYSE IP opened at $47.73 on Thursday. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.90 and a beta of 1.48. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 1.52. International Paper Co has a fifty-two week low of $37.55 and a fifty-two week high of $63.49.

International Paper announced that its board has approved a share buyback plan on Tuesday, October 9th that allows the company to repurchase $430.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Wednesday, February 20th. International Paper’s dividend payout ratio (DPR) is currently 57.31%.

A number of brokerages have recently issued reports on IP. Stephens raised International Paper from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $50.00 to $60.00 in a research note on Wednesday, January 23rd. Deutsche Bank lowered their price target on International Paper from $55.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, January 17th. Zacks Investment Research lowered International Paper from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Wells Fargo & Co lowered International Paper from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 9th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $49.00 price objective on shares of International Paper in a research note on Tuesday, January 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $56.57.

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International Paper Profile

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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