DnB Asset Management AS increased its stake in International Paper Co (NYSE:IP) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,397 shares of the basic materials company’s stock after purchasing an additional 3,300 shares during the period. DnB Asset Management AS’s holdings in International Paper were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in International Paper by 9.9% in 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. Oppenheimer & Co. Inc. increased its holdings in shares of International Paper by 16.7% during the third quarter. Oppenheimer & Co. Inc. now owns 59,568 shares of the basic materials company’s stock worth $3,385,000 after purchasing an additional 8,505 shares during the period. Fox Run Management L.L.C. increased its holdings in shares of International Paper by 22.1% during the third quarter. Fox Run Management L.L.C. now owns 17,100 shares of the basic materials company’s stock worth $972,000 after purchasing an additional 3,100 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of International Paper by 0.8% during the third quarter. Parametric Portfolio Associates LLC now owns 1,888,438 shares of the basic materials company’s stock worth $107,301,000 after purchasing an additional 14,298 shares during the period. Finally, Mutual of America Capital Management LLC increased its holdings in shares of International Paper by 19.3% during the third quarter. Mutual of America Capital Management LLC now owns 136,023 shares of the basic materials company’s stock worth $7,729,000 after purchasing an additional 22,029 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.
International Paper Co (IP) traded down $2.73 during trading on Monday, reaching $59.44. 3,432,184 shares of the company traded hands, compared to its average volume of 2,671,816. The company has a current ratio of 1.62, a quick ratio of 1.17 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $24,540.00, a PE ratio of 11.77, a PEG ratio of 1.41 and a beta of 1.50. International Paper Co has a 1-year low of $49.60 and a 1-year high of $66.94.
International Paper (NYSE:IP) last released its earnings results on Thursday, February 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.08. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $6.01 billion. International Paper had a net margin of 9.36% and a return on equity of 29.53%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. equities analysts predict that International Paper Co will post 4.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, February 20th. International Paper’s dividend payout ratio (DPR) is currently 37.62%.
Several analysts recently issued reports on IP shares. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Deutsche Bank restated a “hold” rating and issued a $56.00 target price (up previously from $54.00) on shares of International Paper in a research report on Monday, October 9th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research note on Thursday, October 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $65.00 price target on shares of International Paper in a research note on Monday, October 23rd. Finally, Stephens assumed coverage on shares of International Paper in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $60.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $65.25.
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International Paper Company Profile
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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