Wayne Hummer Investments L.L.C. purchased a new stake in International Paper Company (NYSE:IP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,532 shares of the basic materials company’s stock, valued at approximately $201,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. grew its position in International Paper by 4.4% in the 2nd quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after purchasing an additional 1,648,915 shares during the period. Vanguard Group Inc. grew its position in International Paper by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock valued at $1,645,398,000 after purchasing an additional 184,066 shares during the period. Bank of New York Mellon Corp grew its position in International Paper by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock valued at $409,080,000 after purchasing an additional 836,888 shares during the period. Ameriprise Financial Inc. grew its position in International Paper by 18.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,335,943 shares of the basic materials company’s stock valued at $359,118,000 after purchasing an additional 966,103 shares during the period. Finally, Iridian Asset Management LLC CT grew its position in International Paper by 42.6% in the 2nd quarter. Iridian Asset Management LLC CT now owns 5,342,050 shares of the basic materials company’s stock valued at $302,413,000 after purchasing an additional 1,596,230 shares during the period. 82.63% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on IP shares. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays PLC lifted their price objective on shares of International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Monday, October 30th. Credit Suisse Group lifted their price objective on shares of International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Finally, Stephens started coverage on shares of International Paper in a report on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $61.73.
Shares of International Paper Company (NYSE IP) traded up $0.15 during trading hours on Friday, hitting $54.21. 1,250,000 shares of the company were exchanged, compared to its average volume of 1,680,000. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. The stock has a market cap of $22,380.00, a P/E ratio of 17.75, a P/E/G ratio of 1.63 and a beta of 1.47. International Paper Company has a 52 week low of $47.85 and a 52 week high of $58.96.
International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.04. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. analysts predict that International Paper Company will post 3.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a $0.475 dividend. This is an increase from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s payout ratio is 87.56%.
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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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