Meyer Handelman Co. trimmed its holdings in International Paper Co (NYSE:IP) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,419 shares of the basic materials company’s stock after selling 5,697 shares during the quarter. Meyer Handelman Co. owned 0.07% of International Paper worth $10,914,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Webster Bank N. A. lifted its stake in International Paper by 64.6% during the fourth quarter. Webster Bank N. A. now owns 7,645 shares of the basic materials company’s stock valued at $308,000 after buying an additional 3,000 shares in the last quarter. American Trust Investment Advisors LLC lifted its stake in International Paper by 59.2% during the fourth quarter. American Trust Investment Advisors LLC now owns 60,850 shares of the basic materials company’s stock valued at $2,456,000 after buying an additional 22,635 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in International Paper by 5.5% during the third quarter. Commonwealth Bank of Australia now owns 68,809 shares of the basic materials company’s stock valued at $3,375,000 after buying an additional 3,600 shares in the last quarter. Evermay Wealth Management LLC purchased a new stake in International Paper during the third quarter valued at about $211,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in International Paper by 58.6% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 22,680 shares of the basic materials company’s stock valued at $915,000 after buying an additional 8,380 shares in the last quarter. 81.56% of the stock is owned by institutional investors.
IP has been the topic of a number of research reports. Zacks Investment Research downgraded International Paper from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Stephens upgraded International Paper from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $50.00 to $60.00 in a report on Wednesday, January 23rd. Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of International Paper in a report on Tuesday, October 23rd. Wells Fargo & Co downgraded International Paper from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 9th. Finally, Deutsche Bank dropped their target price on International Paper from $55.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $54.58.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. International Paper had a return on equity of 30.72% and a net margin of 8.63%. The firm had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.86 billion. As a group, sell-side analysts forecast that International Paper Co will post 5.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $2.00 dividend on an annualized basis and a yield of 4.34%. International Paper’s dividend payout ratio is currently 37.59%.
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International Paper Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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