Ropes Wealth Advisors LLC grew its stake in International Paper Co (NYSE:IP) by 68.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,199 shares of the basic materials company’s stock after buying an additional 7,423 shares during the period. Ropes Wealth Advisors LLC’s holdings in International Paper were worth $761,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Proffitt & Goodson Inc. purchased a new stake in shares of International Paper in the 3rd quarter valued at $33,000. Citizens Financial Group Inc RI raised its holdings in International Paper by 138.4% during the 2nd quarter. Citizens Financial Group Inc RI now owns 801 shares of the basic materials company’s stock valued at $35,000 after buying an additional 465 shares during the last quarter. Phocas Financial Corp. bought a new stake in International Paper during the 2nd quarter valued at $45,000. Capital Investment Advisory Services LLC raised its holdings in International Paper by 83.3% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,100 shares of the basic materials company’s stock valued at $46,000 after buying an additional 500 shares during the last quarter. Finally, CSat Investment Advisory L.P. raised its holdings in International Paper by 218.6% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,099 shares of the basic materials company’s stock valued at $48,000 after buying an additional 754 shares during the last quarter. 81.65% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on IP. KeyCorp reiterated a “sell” rating and set a $38.00 price target on shares of International Paper in a report on Thursday, October 31st. ValuEngine upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Stephens set a $50.00 price target on shares of International Paper and gave the company a “hold” rating in a report on Wednesday, October 9th. Citigroup lowered their price target on shares of International Paper from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating and set a $47.00 price target for the company in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. International Paper presently has a consensus rating of “Hold” and an average target price of $44.22.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. International Paper had a net margin of 6.03% and a return on equity of 26.97%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same period in the prior year, the business earned $1.56 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that International Paper Co will post 4.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.5125 dividend. The ex-dividend date is Thursday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.50. This represents a $2.05 annualized dividend and a yield of 4.46%. International Paper’s dividend payout ratio is 37.59%.
In other International Paper news, SVP Timothy S. Nicholls sold 45,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $42.44, for a total value of $1,909,800.00. Following the completion of the transaction, the senior vice president now directly owns 60,490 shares in the company, valued at approximately $2,567,195.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.
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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