Retirement Systems of Alabama lifted its position in shares of International Paper Company (NYSE:IP) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 757,467 shares of the company’s stock after acquiring an additional 1,898 shares during the quarter. Retirement Systems of Alabama owned 0.18% of International Paper worth $43,039,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Sei Investments Co. boosted its holdings in International Paper by 15.3% during the third quarter. Sei Investments Co. now owns 420,340 shares of the company’s stock worth $23,883,000 after buying an additional 55,640 shares in the last quarter. HL Financial Services LLC lifted its holdings in shares of International Paper by 158.5% in the third quarter. HL Financial Services LLC now owns 41,209 shares of the company’s stock valued at $2,341,000 after purchasing an additional 25,267 shares in the last quarter. FDx Advisors Inc. lifted its holdings in shares of International Paper by 4.5% in the third quarter. FDx Advisors Inc. now owns 45,520 shares of the company’s stock valued at $2,586,000 after purchasing an additional 1,946 shares in the last quarter. Swiss National Bank lifted its holdings in shares of International Paper by 1.3% in the third quarter. Swiss National Bank now owns 1,446,018 shares of the company’s stock valued at $82,163,000 after purchasing an additional 18,500 shares in the last quarter. Finally, Maple Capital Management Inc. purchased a new stake in shares of International Paper in the third quarter valued at about $257,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of International Paper from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Barclays PLC boosted their price objective on shares of International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. Vertical Research reissued a “buy” rating on shares of International Paper in a research report on Friday, July 28th. Credit Suisse Group boosted their price objective on shares of International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, KeyCorp reissued a “hold” rating on shares of International Paper in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of C$61.73.
International Paper Company (NYSE IP) traded down C$0.08 during midday trading on Monday, reaching C$54.85. 1,785,400 shares of the company’s stock were exchanged, compared to its average volume of 2,361,042. International Paper Company has a 12-month low of C$45.19 and a 12-month high of C$58.96. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. The company has a market cap of $22,650.00, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.65 and a beta of 1.47.
International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, October 25th. The company reported C$1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$1.04 by C$0.04. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The company had revenue of C$5.91 billion for the quarter, compared to the consensus estimate of C$5.85 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. research analysts predict that International Paper Company will post 3.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a $0.475 dividend. This is an increase from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 85.25%.
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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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