Sawtooth Solutions LLC trimmed its position in shares of International Paper Co (NYSE:IP) by 61.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,847 shares of the basic materials company’s stock after selling 15,837 shares during the quarter. Sawtooth Solutions LLC’s holdings in International Paper were worth $484,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in IP. Dynamic Technology Lab Private Ltd raised its position in shares of International Paper by 23.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 24,005 shares of the basic materials company’s stock valued at $1,250,000 after purchasing an additional 4,523 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of International Paper in the 2nd quarter valued at approximately $106,000. Old Port Advisors purchased a new position in shares of International Paper in the 2nd quarter valued at approximately $1,937,000. Neville Rodie & Shaw Inc. raised its position in shares of International Paper by 6.0% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 69,831 shares of the basic materials company’s stock valued at $3,432,000 after purchasing an additional 3,931 shares during the last quarter. Finally, Sentinel Trust Co. LBA purchased a new position in shares of International Paper in the 2nd quarter valued at approximately $206,000. 81.85% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Wells Fargo & Co raised their price target on shares of International Paper from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, July 9th. ValuEngine raised shares of International Paper from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. BMO Capital Markets lowered shares of International Paper from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $66.00 to $51.00 in a research report on Tuesday, October 9th. Zacks Investment Research lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Finally, Barclays reduced their price target on shares of International Paper from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $58.64.
Shares of NYSE IP opened at $45.38 on Wednesday. The company has a market cap of $18.34 billion, a PE ratio of 13.00, a PEG ratio of 0.89 and a beta of 1.54. International Paper Co has a 12 month low of $39.60 and a 12 month high of $66.94. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.13 and a current ratio of 1.59.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 25th. The basic materials company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.09. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a net margin of 13.68% and a return on equity of 29.42%. As a group, analysts forecast that International Paper Co will post 5.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.50 per share. This is a boost from International Paper’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, November 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.41%. International Paper’s dividend payout ratio (DPR) is presently 54.44%.
International Paper announced that its Board of Directors has approved a share repurchase program on Tuesday, October 9th that permits the company to buyback $430.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
About International Paper
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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