CENTRAL TRUST Co trimmed its holdings in International Paper Co (NYSE:IP) by 20.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 64,079 shares of the basic materials company’s stock after selling 16,724 shares during the period. CENTRAL TRUST Co’s holdings in International Paper were worth $2,586,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Private Trust Co. NA lifted its stake in International Paper by 7.7% during the fourth quarter. Private Trust Co. NA now owns 5,531 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 396 shares in the last quarter. Vanguard Group Inc lifted its stake in International Paper by 0.3% during the third quarter. Vanguard Group Inc now owns 31,253,119 shares of the basic materials company’s stock worth $1,536,091,000 after purchasing an additional 101,749 shares in the last quarter. Plimoth Trust Co. LLC lifted its stake in International Paper by 9.5% during the third quarter. Plimoth Trust Co. LLC now owns 18,893 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 1,640 shares in the last quarter. Carnegie Capital Asset Management LLC acquired a new position in International Paper during the third quarter worth $281,000. Finally, Vanguard Group Inc. lifted its stake in International Paper by 0.3% during the third quarter. Vanguard Group Inc. now owns 31,253,119 shares of the basic materials company’s stock worth $1,536,091,000 after purchasing an additional 101,749 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.
IP has been the topic of a number of research reports. ValuEngine cut International Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Seaport Global Securities initiated coverage on International Paper in a research note on Tuesday, October 23rd. They set a “neutral” rating on the stock. Royal Bank of Canada restated a “buy” rating and set a $55.00 price target on shares of International Paper in a research note on Tuesday, October 23rd. Zacks Investment Research cut International Paper from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Finally, Goldman Sachs Group cut International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Wednesday, October 10th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. International Paper has an average rating of “Hold” and a consensus target price of $57.00.
Shares of NYSE IP opened at $43.36 on Wednesday. The firm has a market capitalization of $17.12 billion, a PE ratio of 12.42, a P/E/G ratio of 0.78 and a beta of 1.48. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.13 and a current ratio of 1.59. International Paper Co has a 12-month low of $37.55 and a 12-month high of $66.94.
International Paper (NYSE:IP) last announced its quarterly earnings data 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. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a return on equity of 29.75% and a net margin of 13.68%. As a group, analysts anticipate that International Paper Co will post 5.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.61%. International Paper’s payout ratio is currently 57.31%.
International Paper announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 9th that authorizes the company to repurchase $430.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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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