Independence Bank of Kentucky Invests $645,000 in International Paper Co (IP) Stock

Independence Bank of Kentucky acquired a new stake in International Paper Co (NYSE:IP) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,140 shares of the basic materials company’s stock, valued at approximately $645,000.

A number of other large investors have also recently bought and sold shares of IP. Advisory Services Network LLC increased its stake in shares of International Paper by 205.9% during the 4th quarter. Advisory Services Network LLC now owns 7,482 shares of the basic materials company’s stock worth $433,000 after purchasing an additional 5,036 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of International Paper by 149.3% during the 4th quarter. Toronto Dominion Bank now owns 394,986 shares of the basic materials company’s stock worth $22,885,000 after purchasing an additional 236,524 shares during the last quarter. Pinnacle Financial Partners Inc. increased its stake in shares of International Paper by 13.4% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 52,374 shares of the basic materials company’s stock worth $3,034,000 after purchasing an additional 6,179 shares during the last quarter. Sei Investments Co. increased its stake in shares of International Paper by 23.0% during the 4th quarter. Sei Investments Co. now owns 517,171 shares of the basic materials company’s stock worth $29,965,000 after purchasing an additional 96,831 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in shares of International Paper by 3.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 39,652 shares of the basic materials company’s stock worth $2,297,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

International Paper Co (NYSE:IP) opened at $58.38 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.62 and a debt-to-equity ratio of 1.75. International Paper Co has a fifty-two week low of $49.60 and a fifty-two week high of $66.94. The company has a market cap of $23,962.22, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.27 EPS for the quarter, beating the Thomson Reuters’ 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 period last year, the firm earned $0.67 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. equities research analysts anticipate that International Paper Co will post 4.8 earnings per share for the current year.

The company also recently declared 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. This represents a $1.90 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, February 20th. International Paper’s payout ratio is 36.97%.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Co restated an “outperform” rating and set a $70.00 price target (up previously from $65.00) on shares of International Paper in a research note on Monday, January 8th. Bank of America raised their price objective on shares of International Paper from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Barclays raised their price objective on shares of International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Monday, October 30th. Finally, KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.00.

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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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