DekaBank Deutsche Girozentrale Sells 2,507 Shares of International Paper Company (IP)

DekaBank Deutsche Girozentrale lowered its stake in shares of International Paper Company (NYSE:IP) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,805 shares of the basic materials company’s stock after selling 2,507 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in International Paper were worth $3,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in IP. Exencial Wealth Advisors LLC boosted its holdings in International Paper by 0.3% in the second quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 16 shares during the period. Piedmont Investment Advisors LLC boosted its holdings in shares of International Paper by 0.5% during the second quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock valued at $245,000 after acquiring an additional 20 shares during the period. Mechanics Bank Trust Department boosted its holdings in shares of International Paper by 0.6% during the second quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 26 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of International Paper by 0.9% during the second quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock valued at $282,000 after acquiring an additional 44 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of International Paper by 2.4% during the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 47 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

IP has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price objective on shares of International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. ValuEngine cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price target on shares of International Paper in a research report on Monday, October 23rd. DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $53.75 to $62.00 in a research report on Monday, August 14th. Finally, Deutsche Bank restated a “hold” rating and set a $56.00 price objective (up previously from $54.00) on shares of International Paper in a report on Monday, October 9th. One 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’s stock. International Paper has an average rating of “Hold” and an average price target of $61.73.

Shares of International Paper Company (IP) traded down $0.12 during midday trading on Wednesday, hitting $56.80. The company had a trading volume of 1,378,071 shares, compared to its average volume of 2,327,583. International Paper Company has a 1-year low of $49.60 and a 1-year high of $58.96. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 2.31. The company has a market cap of $23,487.36, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.71 and a beta of 1.45.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.04. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the previous year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. 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 issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is a positive change 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 3.35%. International Paper’s payout ratio is 87.56%.

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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.

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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