Ingalls & Snyder LLC boosted its position in shares of International Paper Co (NYSE:IP) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,129 shares of the basic materials company’s stock after buying an additional 795 shares during the quarter. Ingalls & Snyder LLC’s holdings in International Paper were worth $2,262,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Cerebellum GP LLC bought a new position in International Paper during the third quarter valued at about $121,000. CNB Bank boosted its stake in International Paper by 204.0% during the third quarter. CNB Bank now owns 6,643 shares of the basic materials company’s stock valued at $278,000 after buying an additional 4,458 shares in the last quarter. Signet Financial Management LLC boosted its stake in International Paper by 1.5% during the third quarter. Signet Financial Management LLC now owns 22,960 shares of the basic materials company’s stock valued at $1,055,000 after buying an additional 333 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in International Paper by 3.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 23,436 shares of the basic materials company’s stock valued at $980,000 after buying an additional 766 shares in the last quarter. Finally, Quest Capital Management Inc. ADV acquired a new position in shares of International Paper in the 3rd quarter valued at $58,000. 81.04% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on IP shares. BNP Paribas started coverage on International Paper in a research report on Monday, December 2nd. They issued an “outperform” rating and a $53.00 price target for the company. Exane BNP Paribas started coverage on International Paper in a research report on Monday, December 2nd. They issued an “outperform” rating and a $53.00 price target for the company. Goldman Sachs Group lowered International Paper from a “neutral” rating to a “sell” rating and set a $40.00 price target for the company. in a research report on Tuesday, December 10th. Royal Bank of Canada set a $43.00 price target on International Paper and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, KeyCorp reiterated a “sell” rating and issued a $38.00 price target on shares of International Paper in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $45.33.
NYSE:IP opened at $44.50 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 1.37. International Paper Co has a 1-year low of $36.45 and a 1-year high of $48.24. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of 8.36 and a beta of 1.52. The stock has a fifty day simple moving average of $45.78 and a 200 day simple moving average of $42.97.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.63 billion. International Paper had a return on equity of 26.97% and a net margin of 6.03%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.56 EPS. Equities analysts predict that International Paper Co will post 4.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 21st will be paid a $0.5125 dividend. This represents a $2.05 annualized dividend and a yield of 4.61%. International Paper’s dividend payout ratio is currently 38.53%.
In related news, SVP W. Michael Jr. Amick sold 8,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.
International Paper Company 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.
Read More: What is a stock buyback?
Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Co (NYSE:IP).
Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.