Great Lakes Advisors LLC raised its holdings in International Paper (NYSE:IP) by 80.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,536 shares of the basic materials company’s stock after acquiring an additional 3,355 shares during the period. Great Lakes Advisors LLC’s holdings in International Paper were worth $407,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank bought a new position in International Paper in the first quarter valued at about $27,000. Vantage Consulting Group Inc acquired a new stake in shares of International Paper during the fourth quarter valued at about $30,000. Mascoma Wealth Management LLC acquired a new stake in shares of International Paper during the first quarter valued at about $32,000. Wealthcare Capital Management LLC acquired a new stake in shares of International Paper during the first quarter valued at about $34,000. Finally, Alpha DNA Investment Management LLC acquired a new stake in shares of International Paper during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 81.57% of the company’s stock.
A number of analysts have recently commented on the company. Seaport Global Securities raised International Paper from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Friday, February 5th. Zacks Investment Research raised International Paper from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, May 11th. KeyCorp lifted their price objective on International Paper from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Thursday, May 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on International Paper from $49.00 to $58.00 in a research note on Monday, April 19th. Finally, Morgan Stanley lifted their price objective on International Paper from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 12th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.67.
Shares of IP stock opened at $62.65 on Monday. The company has a market cap of $24.54 billion, a P/E ratio of 50.12 and a beta of 1.10. The stock has a 50 day simple moving average of $57.12 and a two-hundred day simple moving average of $51.68. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.09 and a current ratio of 1.33. International Paper has a fifty-two week low of $30.43 and a fifty-two week high of $63.12.
International Paper (NYSE:IP) last issued its earnings results on Thursday, April 29th. The basic materials company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. International Paper had a return on equity of 17.27% and a net margin of 2.37%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. On average, research analysts predict that International Paper will post 2.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Thursday, May 27th will be issued a $0.5125 dividend. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $2.05 dividend on an annualized basis and a yield of 3.27%. International Paper’s payout ratio is currently 46.28%.
International Paper Profile
International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. 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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