Cpwm LLC bought a new position in shares of International Paper Co (NYSE:IP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,764 shares of the basic materials company’s stock, valued at approximately $726,000.
A number of other large investors also recently added to or reduced their stakes in IP. BlackRock Inc. boosted its holdings in shares of International Paper by 0.5% in the 2nd quarter. BlackRock Inc. now owns 36,790,627 shares of the basic materials company’s stock valued at $1,916,056,000 after acquiring an additional 201,122 shares during the last quarter. LSV Asset Management boosted its holdings in shares of International Paper by 10.3% in the 3rd quarter. LSV Asset Management now owns 4,723,998 shares of the basic materials company’s stock valued at $232,184,000 after acquiring an additional 439,685 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of International Paper by 2.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,715,616 shares of the basic materials company’s stock valued at $141,430,000 after acquiring an additional 73,282 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of International Paper by 28.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,477,279 shares of the basic materials company’s stock valued at $121,793,000 after acquiring an additional 555,339 shares during the last quarter. Finally, Levin Capital Strategies L.P. boosted its holdings in shares of International Paper by 25.9% in the 3rd quarter. Levin Capital Strategies L.P. now owns 2,351,655 shares of the basic materials company’s stock valued at $115,584,000 after acquiring an additional 484,156 shares during the last quarter. 81.00% of the stock is currently owned by institutional investors.
IP opened at $45.94 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 1.52. International Paper Co has a 1 year low of $39.60 and a 1 year high of $66.94. The firm has a market capitalization of $18.61 billion, a P/E ratio of 9.26, a PEG ratio of 0.91 and a beta of 1.52.
International Paper (NYSE:IP) last posted its earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.09. International Paper had a net margin of 13.68% and a return on equity of 29.75%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.90 billion. As a group, equities research analysts forecast that International Paper Co will post 5.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.35%. International Paper’s dividend payout ratio is currently 57.31%.
International Paper declared that its board has authorized a share buyback program on Tuesday, October 9th that authorizes the company to buyback $430.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Several research firms have recently commented on IP. Zacks Investment Research downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank set a $55.00 target price on shares of International Paper and gave the company a “hold” rating in a research note on Monday, October 29th. Citigroup decreased their target price on shares of International Paper from $67.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. Barclays decreased their target price on shares of International Paper from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Monday, October 29th. Finally, Argus decreased their target price on shares of International Paper from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.21.
In other International Paper news, SVP John V. Sims sold 4,725 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $54.35, for a total transaction of $256,803.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeanmichel Ribieras sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $54.20, for a total transaction of $542,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
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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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