Norges Bank Takes Position in International Paper (NYSE:IP)


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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 stock opened at $54.94 on Thursday. International Paper has a fifty-two week low of $29.76 and a fifty-two week high of $56.98. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.09 and a current ratio of 1.33. The firm has a 50 day moving average price of $52.74 and a 200 day moving average price of $48.90. The company has a market capitalization of $21.58 billion, a PE ratio of 43.95 and a beta of 1.10.

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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