Toronto Dominion Bank grew its stake in shares of International Paper Co (NYSE:IP) by 149.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,986 shares of the basic materials company’s stock after purchasing an additional 236,524 shares during the period. Toronto Dominion Bank owned about 0.10% of International Paper worth $22,885,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Calton & Associates Inc. purchased a new stake in shares of International Paper during the fourth quarter valued at $106,000. Rational Advisors LLC purchased a new stake in International Paper in the 3rd quarter worth about $108,000. Cerebellum GP LLC purchased a new stake in International Paper in the 4th quarter worth about $121,000. Amica Retiree Medical Trust purchased a new stake in International Paper in the 3rd quarter worth about $128,000. Finally, Advisory Services Network LLC lifted its stake in International Paper by 188.8% in the 2nd quarter. Advisory Services Network LLC now owns 2,533 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 1,656 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.
Shares of International Paper Co (NYSE:IP) opened at $57.72 on Wednesday. International Paper Co has a one year low of $49.60 and a one year high of $66.94. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.17 and a current ratio of 1.62. The firm has a market capitalization of $23,900.29, a PE ratio of 11.29, a PEG ratio of 1.27 and a beta of 1.49.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.08. International Paper had a return on equity of 29.53% and a net margin of 9.36%. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period last year, the business earned $0.67 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. equities research analysts anticipate that International Paper Co will post 4.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, February 20th. International Paper’s dividend payout ratio (DPR) is presently 36.97%.
Several equities research analysts recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and issued a $70.00 price objective on shares of International Paper in a research note on Thursday, January 25th. Wells Fargo & Co reissued an “outperform” rating and issued a $70.00 price objective (up from $65.00) on shares of International Paper in a research note on Monday, January 8th. ValuEngine raised International Paper from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. DA Davidson increased their price objective on International Paper to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Bank of America increased their price objective on International Paper from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $66.00.
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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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