International Paper Co (IP): Are Hedge Funds Right About This Stock?

Now, key money managers have been driving this bullishness. Millennium Management initiated the largest position in International Paper Co (NYSE:IP). It was followed by Mark Kingdon’s Kingdon Capital, which also initiated a $46.7 million position during the quarter. The following funds were also among the new IP investors: Aaron Cowen’s Suvretta Capital Management, Steve Cohen’s Point72 Asset Management, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks similar to International Paper Co (NYSE:IP). These stocks are Realty Income Corp (NYSE:O), Analog Devices, Inc. (NASDAQ:ADI), Magellan Midstream Partners, L.P. (NYSE:MMP), and Roper Industries, Inc. (NYSE:ROP). This group of stocks’ market valuations resemble IP’s market valuation.

As you can see these stocks had an average of 20 funds with bullish positions and the average amount invested in these stocks was $516 million, compared to $457 million in IP’s case. Analog Devices, Inc. (NASDAQ:ADI) is the most popular stock in this table with 28 funds holding shares. On the other hand Magellan Midstream Partners, L.P. (NYSE:MMP) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks International Paper Co (NYSE:IP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.