Regentatlantic Capital LLC raised its stake in shares of International Paper Co (NYSE:IP) by 13.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,261 shares of the basic materials company’s stock after acquiring an additional 6,297 shares during the quarter. Regentatlantic Capital LLC’s holdings in International Paper were worth $2,269,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of International Paper by 2.3% during the second quarter. Vanguard Group Inc. now owns 32,455,172 shares of the basic materials company’s stock valued at $1,405,959,000 after acquiring an additional 741,541 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of International Paper by 5.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 19,820,470 shares of the basic materials company’s stock valued at $858,623,000 after buying an additional 1,061,362 shares in the last quarter. Invesco Ltd. increased its stake in shares of International Paper by 14.7% in the second quarter. Invesco Ltd. now owns 16,419,542 shares of the basic materials company’s stock valued at $711,294,000 after buying an additional 2,104,748 shares in the last quarter. Northern Trust Corp increased its stake in shares of International Paper by 8.7% in the second quarter. Northern Trust Corp now owns 4,620,462 shares of the basic materials company’s stock valued at $200,157,000 after buying an additional 370,194 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of International Paper by 11.7% in the second quarter. Schroder Investment Management Group now owns 4,560,494 shares of the basic materials company’s stock valued at $197,561,000 after buying an additional 476,899 shares in the last quarter. 81.65% of the stock is owned by institutional investors.
IP has been the subject of a number of research reports. Stephens set a $50.00 target price on International Paper and gave the company a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Co lowered their target price on International Paper from $43.00 to $42.00 and set a “market perform” rating for the company in a research note on Tuesday, October 8th. KeyCorp restated a “sell” rating and issued a $38.00 target price on shares of International Paper in a research note on Thursday, July 25th. ValuEngine lowered International Paper from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Finally, Citigroup lowered their target price on International Paper from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. International Paper has a consensus rating of “Hold” and an average price target of $45.20.
In other news, SVP Sharon R. Ryan sold 22,507 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the completion of the transaction, the senior vice president now directly owns 61,554 shares in the company, valued at approximately $2,768,083.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy S. Nicholls sold 45,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $42.44, for a total value of $1,909,800.00. Following the transaction, the senior vice president now owns 60,490 shares of the company’s stock, valued at $2,567,195.60. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
IP stock traded up $0.45 during midday trading on Wednesday, reaching $43.31. The stock had a trading volume of 91,846 shares, compared to its average volume of 2,819,331. The business has a fifty day simple moving average of $40.83 and a two-hundred day simple moving average of $42.67. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 1.38. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 1.90 and a beta of 1.53. International Paper Co has a twelve month low of $36.45 and a twelve month high of $48.24.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.14. The firm had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.77 billion. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. On average, equities analysts predict that International Paper Co will post 4.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 4.73%. This is a positive change from International Paper’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 37.59%.
International Paper Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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