Franklin Resources Inc. decreased its stake in International Paper Co (NYSE:IP) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,344,824 shares of the basic materials company’s stock after selling 88,405 shares during the quarter. Franklin Resources Inc. owned approximately 2.02% of International Paper worth $445,864,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in IP. Calton & Associates Inc. acquired a new position in International Paper during the fourth quarter worth about $106,000. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in International Paper during the fourth quarter worth about $112,000. Wagner Wealth Management LLC acquired a new position in International Paper during the fourth quarter worth about $112,000. Silvant Capital Management LLC acquired a new position in International Paper during the first quarter worth about $119,000. Finally, Signaturefd LLC acquired a new position in International Paper during the first quarter worth about $120,000. Institutional investors and hedge funds own 81.74% of the company’s stock.
Shares of International Paper opened at $54.13 on Friday, Marketbeat Ratings reports. The company has a current ratio of 1.63, a quick ratio of 1.17 and a debt-to-equity ratio of 1.48. International Paper Co has a 12 month low of $50.00 and a 12 month high of $66.94. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.18 and a beta of 1.52.
International Paper (NYSE:IP) last issued its earnings results on Thursday, April 26th. The basic materials company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. International Paper had a net margin of 11.57% and a return on equity of 28.21%. The company had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. International Paper’s quarterly revenue was up 9.5% compared to the same quarter last year. research analysts anticipate that International Paper Co will post 4.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, May 25th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Thursday, May 24th. International Paper’s dividend payout ratio (DPR) is presently 54.44%.
A number of equities analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of International Paper to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. ValuEngine upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America boosted their price target on shares of International Paper from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, February 6th. Finally, Barclays boosted their price target on shares of International Paper from $52.00 to $55.00 and gave the stock an “underweight” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. International Paper has an average rating of “Hold” and a consensus price target of $62.85.
International Paper 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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