Honeywell International Inc. grew its holdings in shares of International Paper Co (NYSE:IP) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 372,900 shares of the basic materials company’s stock after purchasing an additional 40,300 shares during the period. Honeywell International Inc. owned approximately 0.09% of International Paper worth $21,606,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Calton & Associates Inc. purchased a new stake in shares of International Paper during the 4th quarter worth approximately $106,000. Rational Advisors LLC purchased a new stake in shares of International Paper during the 3rd quarter worth approximately $108,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of International Paper during the 4th quarter worth approximately $112,000. Cerebellum GP LLC purchased a new stake in shares of International Paper during the 4th quarter worth approximately $121,000. Finally, Amica Retiree Medical Trust purchased a new stake in shares of International Paper during the 3rd quarter worth approximately $128,000. Institutional investors own 80.61% of the company’s stock.
IP has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 target price on shares of International Paper in a research note on Thursday, January 25th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $65.00) on shares of International Paper in a research note on Monday, January 8th. ValuEngine raised International Paper from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. DA Davidson upped their target price on International Paper to $74.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Bank of America upped their target price on International Paper from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. International Paper has a consensus rating of “Buy” and an average target price of $66.00.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. International Paper had a return on equity of 29.53% and a net margin of 9.36%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the company posted $0.67 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. sell-side analysts expect that International Paper Co will post 4.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, February 20th. International Paper’s dividend payout ratio is presently 36.97%.
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International Paper Profile
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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