Clinton Group Inc. lessened its position in International Paper Co (NYSE:IP) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,014 shares of the basic materials company’s stock after selling 1,315 shares during the period. Clinton Group Inc.’s holdings in International Paper were worth $443,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of IP. Qube Research & Technologies Ltd acquired a new position in International Paper during the 2nd quarter worth about $106,000. Private Capital Group LLC lifted its position in International Paper by 227.0% during the 1st quarter. Private Capital Group LLC now owns 2,093 shares of the basic materials company’s stock worth $112,000 after buying an additional 1,453 shares in the last quarter. Squar Milner Financial Services LLC acquired a new position in International Paper during the 2nd quarter worth about $125,000. Flagship Harbor Advisors LLC acquired a new position in International Paper during the 2nd quarter worth about $139,000. Finally, Vigilant Capital Management LLC lifted its position in International Paper by 375.1% during the 2nd quarter. Vigilant Capital Management LLC now owns 3,088 shares of the basic materials company’s stock worth $161,000 after buying an additional 2,438 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.
Shares of NYSE:IP opened at $42.67 on Friday. The stock has a market cap of $20.10 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.99 and a beta of 1.54. International Paper Co has a 1-year low of $41.87 and a 1-year high of $66.94. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.57 and a quick ratio of 1.13.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.10. The firm had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.80 billion. International Paper had a return on equity of 29.24% and a net margin of 12.95%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. As a group, sell-side analysts expect that International Paper Co will post 5.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.50 per share. This is a boost from International Paper’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Wednesday, November 14th. International Paper’s payout ratio is currently 54.44%.
International Paper announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 9th that authorizes the company to repurchase $430.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several research analysts recently issued reports on IP shares. Deutsche Bank started coverage on shares of International Paper in a research report on Monday, June 18th. They set a “hold” rating and a $64.00 price target on the stock. Citigroup reduced their price target on shares of International Paper from $67.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday. Goldman Sachs Group downgraded shares of International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research report on Wednesday. Stephens set a $57.00 price target on shares of International Paper and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.50.
In other news, insider Timothy S. Nicholls sold 17,000 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $52.53, for a total value of $893,010.00. Following the completion of the sale, the insider now directly owns 108,538 shares of the company’s stock, valued at approximately $5,701,501.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John V. Sims sold 4,725 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $54.35, for a total value of $256,803.75. The disclosure for this sale can be found here. Insiders have sold a total of 46,725 shares of company stock valued at $2,484,864 over the last three months. Company insiders own 0.32% of the company’s stock.
International Paper 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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