Blue Edge Capital LLC bought a new position in International Paper Co (NYSE:IP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,510 shares of the basic materials company’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sterling Capital Management LLC raised its holdings in International Paper by 6.6% in the 4th quarter. Sterling Capital Management LLC now owns 46,115 shares of the basic materials company’s stock worth $2,672,000 after acquiring an additional 2,860 shares during the period. Sanders Morris Harris LLC bought a new position in International Paper in the 4th quarter worth $214,000. Vanguard Capital Wealth Advisors bought a new position in International Paper in the 4th quarter worth $406,000. MetLife Investment Advisors LLC bought a new position in International Paper in the 4th quarter worth $7,402,000. Finally, BB&T Securities LLC raised its holdings in International Paper by 6.8% in the 4th quarter. BB&T Securities LLC now owns 52,922 shares of the basic materials company’s stock worth $3,066,000 after acquiring an additional 3,357 shares during the period. Hedge funds and other institutional investors own 82.52% of the company’s stock.
IP has been the topic of several research reports. KeyCorp restated a “hold” rating on shares of International Paper in a report on Tuesday, January 2nd. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Barclays boosted their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. DA Davidson boosted their price objective on shares of International Paper to $74.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Stephens set a $66.00 price objective on shares of International Paper and gave the stock a “hold” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $65.17.
International Paper (NYSE:IP) last posted its earnings results on Thursday, February 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.08. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $6.01 billion. International Paper had a net margin of 9.36% and a return on equity of 29.05%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. equities research analysts forecast that International Paper Co will post 4.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were paid a $0.475 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $1.90 dividend on an annualized basis and a yield of 3.57%. International Paper’s payout ratio is currently 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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