HighVista Strategies LLC raised its stake in shares of International Paper Company (NYSE:IP) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the basic materials company’s stock after buying an additional 1,000 shares during the period. HighVista Strategies LLC’s holdings in International Paper were worth $361,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in IP. Menta Capital LLC acquired a new position in shares of International Paper during the fourth quarter valued at $414,000. AE Wealth Management LLC acquired a new position in shares of International Paper during the fourth quarter valued at $948,000. Norges Bank acquired a new position in shares of International Paper during the fourth quarter valued at $196,164,000. UBS Asset Management Americas Inc. raised its position in shares of International Paper by 3.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,066,651 shares of the basic materials company’s stock valued at $56,598,000 after buying an additional 31,894 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new position in shares of International Paper during the fourth quarter valued at $707,000. Institutional investors and hedge funds own 83.08% of the company’s stock.
Shares of International Paper Company (NYSE:IP) traded down 4.78% during midday trading on Friday, hitting $54.74. 6,280,646 shares of the stock traded hands. The stock has a market capitalization of $23.05 billion, a P/E ratio of 27.80 and a beta of 1.48. The firm has a 50-day moving average price of $56.61 and a 200-day moving average price of $53.65. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95.
International Paper (NYSE:IP) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company earned $0.92 EPS. International Paper’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that International Paper Company will post $3.60 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.38%. International Paper’s payout ratio is presently 93.91%.
Several equities analysts recently weighed in on IP shares. Jefferies Group LLC restated a “buy” rating and issued a $63.00 price objective on shares of International Paper in a report on Wednesday, April 12th. Royal Bank Of Canada upgraded shares of International Paper from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $56.00 in a report on Wednesday, April 19th. Citigroup Inc. restated a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Deutsche Bank AG increased their price objective on shares of International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. Finally, Barclays PLC increased their price objective on shares of International Paper from $45.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, May 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. International Paper presently has a consensus rating of “Hold” and a consensus target price of $56.90.
International Paper Company 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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