Summit Financial Wealth Advisors LLC raised its position in International Paper Company (NYSE:IP) by 42.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,901 shares of the company’s stock after buying an additional 17,270 shares during the period. International Paper comprises about 1.2% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Summit Financial Wealth Advisors LLC’s holdings in International Paper were worth $3,290,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new position in International Paper in the 2nd quarter worth approximately $424,000. IHT Wealth Management LLC lifted its stake in International Paper by 26.8% in the 2nd quarter. IHT Wealth Management LLC now owns 1,310 shares of the company’s stock worth $650,000 after purchasing an additional 277 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in International Paper by 2.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the company’s stock worth $107,000 after purchasing an additional 47 shares in the last quarter. Ffcm LLC lifted its stake in International Paper by 148.0% in the 2nd quarter. Ffcm LLC now owns 2,081 shares of the company’s stock worth $119,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Asset Advisors Corp lifted its stake in International Paper by 3.6% in the 2nd quarter. Asset Advisors Corp now owns 2,398 shares of the company’s stock worth $136,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 82.63% of the company’s stock.
A number of research analysts have weighed in on the stock. Barclays PLC raised their target price on shares of International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research note on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of International Paper in a research note on Monday, October 30th. Credit Suisse Group raised their target price on shares of International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. 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 target price on the stock. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 target price on shares of International Paper in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of C$61.73.
Shares of International Paper Company (NYSE IP) traded down C$0.08 during midday trading on Monday, reaching C$54.85. The company’s stock had a trading volume of 1,785,400 shares, compared to its average volume of 2,361,042. The stock has a market capitalization of $22,650.00, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.65 and a beta of 1.47. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 2.31. International Paper Company has a 52 week low of C$45.19 and a 52 week high of C$58.96.
International Paper (NYSE:IP) last announced its earnings results on Wednesday, October 25th. The company reported C$1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.04 by C$0.04. The company had revenue of C$5.91 billion for the quarter, compared to analyst estimates of C$5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. analysts predict that International Paper Company will post 3.5 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.475 dividend. This is a positive change from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, November 14th. This represents a $1.90 dividend on an annualized basis and a yield of 3.46%. International Paper’s payout ratio is presently 85.25%.
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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