Norges Bank bought a new stake in shares of International Paper (NYSE:IP) during the fourth quarter, Holdings Channel.com reports. The fund bought 4,145,187 shares of the basic materials company’s stock, valued at approximately $206,099,000.
Other large investors have also bought and sold shares of the company. North Point Portfolio Managers Corp OH acquired a new stake in International Paper in the 4th quarter worth about $209,000. Foster & Motley Inc. boosted its holdings in International Paper by 8.8% in the 4th quarter. Foster & Motley Inc. now owns 82,093 shares of the basic materials company’s stock worth $4,082,000 after buying an additional 6,619 shares during the last quarter. Varma Mutual Pension Insurance Co acquired a new stake in International Paper in the 4th quarter worth about $1,715,000. QS Investors LLC boosted its holdings in International Paper by 22.6% in the 4th quarter. QS Investors LLC now owns 174,208 shares of the basic materials company’s stock worth $8,662,000 after buying an additional 32,058 shares during the last quarter. Finally, Wellington Shields Capital Management LLC acquired a new stake in International Paper in the 4th quarter worth about $256,000. Hedge funds and other institutional investors own 81.57% of the company’s stock.
Several research firms recently issued reports on IP. Deutsche Bank Aktiengesellschaft lifted their price objective on International Paper from $40.00 to $49.00 and gave the stock a “hold” rating in a report on Wednesday, January 20th. Jefferies Financial Group assumed coverage on shares of International Paper in a research note on Tuesday, January 5th. They issued a “buy” rating on the stock. Seaport Global Securities raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Friday, February 5th. Zacks Investment Research lowered shares of International Paper from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Monday, February 8th. Finally, UBS Group assumed coverage on shares of International Paper in a research note on Tuesday, January 12th. They issued a “sell” rating and a $40.00 target price on the stock. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. International Paper currently has an average rating of “Hold” and a consensus price target of $49.00.
International Paper (NYSE:IP) last posted its earnings results on Thursday, February 4th. The basic materials company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.06). International Paper had a net margin of 2.37% and a return on equity of 17.27%. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter last year, the business posted $1.09 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that International Paper will post 2.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Thursday, February 18th were issued a $0.5125 dividend. The ex-dividend date of this dividend was Wednesday, February 17th. This represents a $2.05 annualized dividend and a yield of 3.73%. International Paper’s dividend payout ratio (DPR) is presently 46.28%.
In other International Paper news, SVP Gregory T. Wanta sold 7,500 shares of the business’s stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $54.58, for a total value of $409,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP W. Michael Jr. Amick sold 18,222 shares of the business’s stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $48.03, for a total transaction of $875,202.66. 0.37% of the stock is currently owned by company insiders.
About International Paper
International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. 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.
Featured Article: Net Margin – Understanding the Different Kinds of Profit
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 (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.