Quantitative Systematic Strategies LLC acquired a new position in International Paper (NYSE:IP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,002 shares of the basic materials company’s stock, valued at approximately $243,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in IP. FMR LLC lifted its stake in International Paper by 4.3% in the first quarter. FMR LLC now owns 391,110 shares of the basic materials company’s stock worth $18,096,000 after purchasing an additional 16,114 shares during the last quarter. Vident Investment Advisory LLC lifted its stake in International Paper by 10.0% in the second quarter. Vident Investment Advisory LLC now owns 15,998 shares of the basic materials company’s stock worth $564,000 after purchasing an additional 1,458 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in International Paper by 27.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 138,464 shares of the basic materials company’s stock worth $4,875,000 after purchasing an additional 29,400 shares during the last quarter. FDx Advisors Inc. bought a new stake in International Paper in the second quarter worth about $533,000. Finally, Cerebellum GP LLC bought a new stake in International Paper in the second quarter worth about $121,000. 80.97% of the stock is owned by institutional investors and hedge funds.
IP has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of International Paper from $29.00 to $37.00 and gave the company an “underweight” rating in a research note on Monday, October 26th. Wells Fargo & Company raised shares of International Paper from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $52.00 in a research note on Friday, October 9th. KeyCorp lifted their price target on shares of International Paper from $31.00 to $36.00 and gave the company an “underweight” rating in a research note on Friday, October 30th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research note on Wednesday, September 30th. Finally, BMO Capital Markets raised shares of International Paper from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $53.00 in a research note on Monday, October 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.42.
In other International Paper news, SVP Gregory T. Wanta sold 7,500 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $47.93, for a total value of $359,475.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.
NYSE IP opened at $49.43 on Friday. The company has a market capitalization of $19.43 billion, a PE ratio of 39.54 and a beta of 1.11. The company has a fifty day moving average of $45.29 and a 200 day moving average of $38.43. International Paper has a 1 year low of $26.38 and a 1 year high of $50.61. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.09.
International Paper (NYSE:IP) last posted its earnings results on Thursday, October 29th. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.23. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.11 billion. International Paper had a net margin of 2.37% and a return on equity of 17.27%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. Research analysts expect that International Paper will post 2.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.5125 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 4.15%. International Paper’s dividend payout ratio (DPR) is currently 46.28%.
About International Paper
International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and the Americas. 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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