Profund Advisors LLC raised its position in shares of Champion International Paper (NYSE:IP) by 31.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,632 shares of the basic materials company’s stock after buying an additional 3,228 shares during the quarter. Profund Advisors LLC’s holdings in Champion International Paper were worth $790,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT increased its holdings in Champion International Paper by 20.4% in the 3rd quarter. Iridian Asset Management LLC CT now owns 6,432,080 shares of the basic materials company’s stock worth $365,471,000 after buying an additional 1,090,030 shares during the period. Renaissance Technologies LLC purchased a new stake in Champion International Paper in the 4th quarter worth approximately $21,131,000. Bluestein R H & Co. purchased a new stake in Champion International Paper in the 3rd quarter worth approximately $20,055,000. American Century Companies Inc. boosted its position in Champion International Paper by 73.8% in the 4th quarter. American Century Companies Inc. now owns 729,947 shares of the basic materials company’s stock worth $42,293,000 after purchasing an additional 310,015 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in Champion International Paper by 7.8% in the 3rd quarter. Sound Shore Management Inc. CT now owns 3,624,456 shares of the basic materials company’s stock worth $205,942,000 after purchasing an additional 263,372 shares in the last quarter. 82.61% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Wells Fargo reiterated an “outperform” rating and set a $70.00 target price (up previously from $65.00) on shares of Champion International Paper in a research report on Monday, January 8th. Bank of America raised their price objective on Champion International Paper from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 1st. ValuEngine upgraded Champion International Paper from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 target price on shares of Champion International Paper in a research note on Thursday, January 25th. Finally, Zacks Investment Research raised Champion International Paper from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.46.
IP stock traded down $1.26 during trading on Friday, hitting $52.17. 2,845,636 shares of the company’s stock were exchanged, compared to its average volume of 2,996,919. The stock has a market cap of $21,543.13, a price-to-earnings ratio of 14.95, a PEG ratio of 1.16 and a beta of 1.51. Champion International Paper has a 52-week low of $49.60 and a 52-week high of $66.94. The company has a quick ratio of 1.17, a current ratio of 1.62 and a debt-to-equity ratio of 1.66.
Champion International Paper (NYSE:IP) last posted its earnings results on Thursday, February 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.08. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Champion International Paper had a return on equity of 29.05% and a net margin of 9.36%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. sell-side analysts anticipate that Champion International Paper will post 4.84 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.64%. The ex-dividend date was Tuesday, February 20th. Champion International Paper’s dividend payout ratio (DPR) is 54.44%.
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Champion International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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