Oregon Public Employees Retirement Fund purchased a new stake in International Paper Company (NYSE:IP – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,100 shares of the basic materials company’s stock, valued at approximately $2,159,000.
Several other hedge funds also recently added to or reduced their stakes in IP. Stephens Inc. AR raised its stake in International Paper by 1.3% during the first quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company’s stock valued at $853,000 after buying an additional 298 shares in the last quarter. Ranch Capital Advisors Inc. lifted its stake in International Paper by 0.8% during the first quarter. Ranch Capital Advisors Inc. now owns 45,785 shares of the basic materials company’s stock worth $1,635,000 after purchasing an additional 364 shares during the last quarter. Arvest Bank Trust Division lifted its stake in International Paper by 1.2% during the first quarter. Arvest Bank Trust Division now owns 41,480 shares of the basic materials company’s stock worth $1,481,000 after purchasing an additional 509 shares during the last quarter. GAMMA Investing LLC lifted its stake in International Paper by 8.8% during the second quarter. GAMMA Investing LLC now owns 6,382 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 517 shares during the last quarter. Finally, Gibbs Wealth Management boosted its holdings in International Paper by 7.9% in the third quarter. Gibbs Wealth Management now owns 7,230 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 532 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.
International Paper Price Performance
Shares of NYSE IP traded up $0.30 during midday trading on Friday, reaching $34.54. The company’s stock had a trading volume of 4,488,303 shares, compared to its average volume of 5,793,916. The company has a market cap of $18.29 billion, a price-to-earnings ratio of -5.27, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The company has a 50 day moving average price of $34.38 and a 200 day moving average price of $37.24. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59.
International Paper (NYSE:IP – Get Free Report) last announced its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. International Paper’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) earnings per share. On average, equities research analysts expect that International Paper Company will post 1.13 EPS for the current year.
International Paper Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Monday, November 16th. International Paper’s dividend payout ratio is -28.20%.
Wall Street Analysts Forecast Growth
IP has been the subject of a number of recent research reports. Bank of America reaffirmed a “buy” rating on shares of International Paper in a research report on Thursday, October 29th. UBS Group dropped their target price on International Paper from $47.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Wells Fargo & Company cut their target price on International Paper from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Argus restated a “buy” rating and set a $45.00 price target on shares of International Paper in a research report on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $45.44.
Read Our Latest Research Report on IP
International Paper Company Profile
International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.
The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.
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