Beacon Investment Advisory Services Inc. purchased a new stake in International Paper Company (NYSE:IP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,534 shares of the basic materials company’s stock, valued at approximately $314,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its position in shares of International Paper by 21.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 51,063 shares of the basic materials company’s stock valued at $2,891,000 after acquiring an additional 9,093 shares during the period. FMR LLC lifted its position in shares of International Paper by 9.9% during the 2nd quarter. FMR LLC now owns 359,574 shares of the basic materials company’s stock valued at $20,356,000 after acquiring an additional 32,461 shares during the period. Burney Co. lifted its position in shares of International Paper by 4.5% during the 2nd quarter. Burney Co. now owns 101,543 shares of the basic materials company’s stock valued at $5,654,000 after acquiring an additional 4,374 shares during the period. Homrich & Berg bought a new stake in shares of International Paper during the 2nd quarter valued at $337,000. Finally, Cipher Capital LP bought a new stake in shares of International Paper during the 2nd quarter valued at $2,703,000. Institutional investors and hedge funds own 81.98% of the company’s stock.
International Paper Company (NYSE:IP) traded down $0.15 during trading on Thursday, hitting $56.48. The stock had a trading volume of 1,592,300 shares, compared to its average volume of 2,317,881. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.48 and a quick ratio of 0.97. International Paper Company has a 12 month low of $49.60 and a 12 month high of $58.96. The firm has a market cap of $23,320.00, a PE ratio of 18.51, a P/E/G ratio of 1.70 and a beta of 1.46.
International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. International Paper’s revenue was up 12.3% on a year-over-year basis. research analysts anticipate that International Paper Company will post 3.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.36%. This is a boost from International Paper’s previous quarterly dividend of $0.46. International Paper’s payout ratio is 87.56%.
A number of analysts have recently weighed in on the company. Stephens assumed coverage on International Paper in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 target price for the company. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 target price on shares of International Paper in a research report on Monday, October 23rd. Credit Suisse Group upped their target price on International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Barclays upped their target price on International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. Finally, KeyCorp reiterated a “hold” rating on shares of International Paper in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.73.
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About International Paper
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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