Skandinaviska Enskilda Banken AB publ raised its holdings in International Paper Company (NYSE:IP) by 12.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,826 shares of the basic materials company’s stock after acquiring an additional 5,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in International Paper were worth $2,774,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in IP. Quadrant Capital Group LLC grew its position in shares of International Paper by 2.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after buying an additional 47 shares in the last quarter. Rational Advisors LLC bought a new position in shares of International Paper during the 3rd quarter worth $108,000. Ffcm LLC grew its position in shares of International Paper by 148.0% during the 2nd quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares in the last quarter. Amica Retiree Medical Trust bought a new position in shares of International Paper during the 3rd quarter worth $128,000. Finally, Krilogy Financial LLC grew its position in shares of International Paper by 9.3% during the 2nd quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock worth $140,000 after buying an additional 210 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.
Shares of International Paper Company (NYSE:IP) traded up $0.04 during midday trading on Wednesday, hitting $56.92. The company had a trading volume of 2,295,800 shares, compared to its average volume of 2,331,641. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. International Paper Company has a 1 year low of $49.60 and a 1 year high of $58.96. The stock has a market cap of $23,487.36, a PE ratio of 18.59, a P/E/G ratio of 1.71 and a beta of 1.45.
International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the business posted $0.91 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. analysts predict that International Paper Company will post 3.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.34%. International Paper’s dividend payout ratio (DPR) is 87.56%.
A number of brokerages recently weighed in on IP. Stephens began coverage on International Paper in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price objective for the company. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price objective on shares of International Paper in a research note on Monday, October 23rd. Credit Suisse Group upped their price objective on International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. KeyCorp restated a “hold” rating on shares of International Paper in a research note on Monday, October 30th. Finally, Barclays upped their price objective on International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $61.73.
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About International Paper
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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