Exane Derivatives increased its stake in International Paper Co (NYSE:IP) by 61,358.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 78,667 shares of the basic materials company’s stock after purchasing an additional 78,539 shares during the quarter. Exane Derivatives’ holdings in International Paper were worth $3,500,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Manchester Financial Inc. bought a new stake in International Paper during the fourth quarter valued at about $25,000. Proffitt & Goodson Inc. bought a new stake in shares of International Paper in the third quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of International Paper by 32.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 925 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 224 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of International Paper in the second quarter worth about $45,000. Finally, Capital Investment Advisory Services LLC increased its holdings in shares of International Paper by 83.3% in the third quarter. Capital Investment Advisory Services LLC now owns 1,100 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 500 shares during the last quarter. 81.03% of the stock is currently owned by institutional investors.
In other International Paper news, SVP W. Michael Jr. Amick sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $44.83, for a total transaction of $358,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on IP shares. BNP Paribas started coverage on International Paper in a report on Monday, December 2nd. They issued an “outperform” rating and a $53.00 target price on the stock. Goldman Sachs Group cut International Paper from a “neutral” rating to a “sell” rating and set a $40.00 target price on the stock. in a report on Tuesday, December 10th. Citigroup reduced their target price on International Paper from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a report on Tuesday, November 5th. Finally, Stephens set a $50.00 target price on International Paper and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $45.27.
IP traded up $0.12 on Wednesday, hitting $44.66. The company had a trading volume of 26,403 shares, compared to its average volume of 1,808,693. The company has a market cap of $17.94 billion, a PE ratio of 13.03 and a beta of 1.52. International Paper Co has a 12-month low of $36.45 and a 12-month high of $48.24. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 1.37. The business’s fifty day simple moving average is $45.66 and its 200 day simple moving average is $43.02.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.63 billion. International Paper had a return on equity of 26.97% and a net margin of 6.03%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.56 earnings per share. On average, analysts anticipate that International Paper Co will post 4.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 21st will be given a $0.5125 dividend. The ex-dividend date is Thursday, February 20th. This represents a $2.05 annualized dividend and a yield of 4.59%. International Paper’s dividend payout ratio is currently 38.53%.
About International Paper
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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