DNB Asset Management AS boosted its stake in shares of International Paper Co (NYSE:IP) by 50.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,659 shares of the basic materials company’s stock after buying an additional 37,027 shares during the period. DNB Asset Management AS’s holdings in International Paper were worth $5,096,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of IP. Proffitt & Goodson Inc. purchased a new position in shares of International Paper in the 3rd quarter worth approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in International Paper by 32.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 925 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 224 shares during the last quarter. Phocas Financial Corp. purchased a new position in International Paper in the second quarter worth $45,000. Capital Investment Advisory Services LLC increased its position in shares of International Paper by 83.3% during the third quarter. Capital Investment Advisory Services LLC now owns 1,100 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Finally, CSat Investment Advisory L.P. increased its position in shares of International Paper by 218.6% during the second quarter. CSat Investment Advisory L.P. now owns 1,099 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 754 shares in the last quarter. Institutional investors own 81.04% of the company’s stock.
NYSE:IP opened at $44.42 on Wednesday. International Paper Co has a 12 month low of $36.45 and a 12 month high of $48.24. The firm has a fifty day simple moving average of $45.81 and a 200-day simple moving average of $42.96. The company has a current ratio of 1.49, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $17.47 billion, a P/E ratio of 8.35 and a beta of 1.52.
International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. International Paper had a return on equity of 26.97% and a net margin of 6.03%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the prior year, the firm earned $1.56 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that International Paper Co will post 4.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a yield of 4.62%. International Paper’s payout ratio is presently 38.53%.
In related news, SVP W. Michael Jr. Amick sold 8,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $44.83, for a total value of $358,640.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on the company. KeyCorp reissued a “sell” rating and issued a $38.00 price objective on shares of International Paper in a research report on Thursday, October 31st. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a research report on Tuesday, November 5th. Citigroup decreased their price target on International Paper from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Exane BNP Paribas assumed coverage on International Paper in a research note on Monday, December 2nd. They issued an “outperform” rating and a $53.00 price target for the company. Finally, Stephens set a $50.00 price target on International Paper and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. International Paper presently has an average rating of “Hold” and an average target price of $45.33.
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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