Albion Financial Group UT trimmed its holdings in International Paper Co (NYSE:IP) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,405 shares of the basic materials company’s stock after selling 1,437 shares during the period. Albion Financial Group UT’s holdings in International Paper were worth $4,427,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fred Alger Management Inc. raised its position in International Paper by 1,975.1% during the fourth quarter. Fred Alger Management Inc. now owns 1,481,006 shares of the basic materials company’s stock valued at $85,809,000 after purchasing an additional 1,409,637 shares in the last quarter. Renaissance Technologies LLC acquired a new position in International Paper during the fourth quarter valued at approximately $21,131,000. Bluestein R H & Co. acquired a new position in International Paper during the third quarter valued at approximately $20,055,000. American Century Companies Inc. raised its position in International Paper by 73.8% during the fourth quarter. American Century Companies Inc. now owns 729,947 shares of the basic materials company’s stock valued at $42,293,000 after purchasing an additional 310,015 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of International Paper by 11.5% during the third quarter. Nordea Investment Management AB now owns 2,442,847 shares of the basic materials company’s stock worth $138,803,000 after buying an additional 251,751 shares during the last quarter. Institutional investors own 82.52% of the company’s stock.
Shares of International Paper stock opened at $53.53 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.62 and a debt-to-equity ratio of 1.66. International Paper Co has a one year low of $49.60 and a one year high of $66.94. The firm has a market cap of $21,976.70, a price-to-earnings ratio of 10.41, a P/E/G ratio of 1.19 and a beta of 1.47.
International Paper (NYSE:IP) last issued its quarterly earnings data 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 29.05%. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. International Paper’s revenue for the quarter was up 14.2% on a year-over-year basis. analysts forecast that International Paper Co will post 4.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were paid a $0.475 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $1.90 annualized dividend and a dividend yield of 3.55%. International Paper’s dividend payout ratio is 36.97%.
A number of analysts have weighed in on IP shares. 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. Wells Fargo reaffirmed an “outperform” rating and set a $70.00 target price (up previously from $65.00) on shares of International Paper in a research note on Monday, January 8th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Tuesday, February 6th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $62.00 target price on shares of International Paper in a research note on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $65.17.
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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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