Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in International Paper Company (NYSE:IP) by 11.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 90,398 shares of the basic materials company’s stock after selling 11,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in International Paper were worth $5,136,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in International Paper by 2.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 47 shares during the last quarter. Rational Advisors LLC acquired a new stake in International Paper during the 3rd quarter worth about $108,000. Ffcm LLC grew its holdings in International Paper by 148.0% during the 2nd quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 1,242 shares during the period. Krilogy Financial LLC grew its holdings in International Paper by 9.3% during the 2nd quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 210 shares during the period. Finally, Advisory Services Network LLC grew its holdings in International Paper by 188.8% during the 2nd quarter. Advisory Services Network LLC now owns 2,533 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 1,656 shares during the period. Institutional investors own 81.98% of the company’s stock.
Shares of International Paper Company (NYSE IP) traded down $0.12 during midday trading on Thursday, reaching $56.80. 1,378,000 shares of the company traded hands, compared to its average volume of 2,327,583. International Paper Company has a twelve month low of $49.60 and a twelve month high of $58.96. The company has a market cap of $23,503.87, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.71 and a beta of 1.45. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48.
International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.04. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter last year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. equities analysts predict that International Paper Company will post 3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.35%. This is a boost from International Paper’s previous quarterly dividend of $0.46. International Paper’s dividend payout ratio (DPR) is currently 87.56%.
A number of analysts have weighed in on the company. Jefferies Group reiterated a “buy” rating and set a $66.00 price target on shares of International Paper in a report on Friday, August 18th. BMO Capital Markets restated a “buy” rating on shares of International Paper in a research note on Thursday, August 17th. Zacks Investment Research downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. KeyCorp restated a “hold” rating on shares of International Paper in a research note on Thursday, October 12th. Finally, Stephens initiated coverage on International Paper in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $61.73.
About International Paper
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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