Arden Trust Co lessened its stake in shares of International Paper Co (NYSE:IP) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,040 shares of the basic materials company’s stock after selling 874 shares during the quarter. Arden Trust Co’s holdings in International Paper were worth $650,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of IP. Recurrent Investment Advisors LLC lifted its position in shares of International Paper by 32.0% during the second quarter. Recurrent Investment Advisors LLC now owns 12,773 shares of the basic materials company’s stock worth $450,000 after purchasing an additional 3,100 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in International Paper by 1,068.0% in the second quarter. Financial Management Professionals Inc. now owns 1,168 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,068 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of International Paper in the 2nd quarter valued at approximately $253,000. Kentucky Retirement Systems bought a new position in International Paper during the 2nd quarter valued at $770,000. Finally, CWM Advisors LLC lifted its position in shares of International Paper by 33.6% during the second quarter. CWM Advisors LLC now owns 27,596 shares of the basic materials company’s stock worth $972,000 after purchasing an additional 6,945 shares during the last quarter. 80.97% of the stock is owned by institutional investors.
NYSE IP opened at $46.54 on Friday. International Paper Co has a 12 month low of $26.38 and a 12 month high of $47.64. The company has a market capitalization of $18.29 billion, a P/E ratio of 29.09 and a beta of 1.17. The company’s 50 day simple moving average is $40.37 and its 200 day simple moving average is $35.89. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.79 and a quick ratio of 0.55.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.38. International Paper had a net margin of 2.98% and a return on equity of 19.18%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the previous year, the business posted $1.15 earnings per share. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. On average, analysts anticipate that International Paper Co will post 2.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be given a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, November 13th. International Paper’s dividend payout ratio (DPR) is presently 46.28%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a report on Wednesday, September 30th. Wells Fargo & Company upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $52.00 in a research report on Friday, October 9th. BMO Capital Markets upgraded shares of International Paper from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $40.00 to $53.00 in a research report on Monday, October 12th. DA Davidson reaffirmed a “buy” rating on shares of International Paper in a report on Friday, July 31st. Finally, BofA Securities upgraded International Paper from a “neutral” rating to a “buy” rating in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.23.
International Paper Profile
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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