Levin Capital Strategies L.P. trimmed its holdings in International Paper Co (NYSE:IP) by 46.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,000 shares of the basic materials company’s stock after selling 3,410 shares during the quarter. Levin Capital Strategies L.P.’s holdings in International Paper were worth $232,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of International Paper during the 4th quarter worth about $112,000. Arizona State Retirement System boosted its stake in shares of International Paper by 5.7% during the 4th quarter. Arizona State Retirement System now owns 130,731 shares of the basic materials company’s stock worth $7,575,000 after acquiring an additional 7,086 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of International Paper by 2.7% during the 4th quarter. State of Wisconsin Investment Board now owns 389,058 shares of the basic materials company’s stock worth $22,542,000 after acquiring an additional 10,052 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of International Paper by 21.6% during the 4th quarter. D.A. Davidson & CO. now owns 226,010 shares of the basic materials company’s stock worth $13,095,000 after acquiring an additional 40,087 shares in the last quarter. Finally, Independence Bank of Kentucky purchased a new stake in shares of International Paper during the 4th quarter worth about $645,000. 81.38% of the stock is currently owned by institutional investors.
IP has been the topic of several recent analyst reports. Stephens initiated coverage on shares of International Paper in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 target price on the stock. BMO Capital Markets reissued a “buy” rating and set a $70.00 target price on shares of International Paper in a research note on Thursday, January 25th. Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, January 2nd. ValuEngine lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Credit Suisse Group increased their target price on shares of International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. International Paper currently has a consensus rating of “Buy” and a consensus price target of $66.00.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.08. International Paper had a net margin of 9.36% and a return on equity of 29.53%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. analysts forecast that International Paper Co will post 4.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be issued a $0.475 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $1.90 dividend on an annualized basis and a yield of 3.22%. International Paper’s payout ratio is 36.97%.
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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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