International Paper Co. (IP) Declares Quarterly Dividend of $0.46
International Paper Co. (NYSE:IP) announced a quarterly dividend on Tuesday, October 11th. Stockholders of record on Tuesday, November 15th will be given a dividend of 0.4625 per share on Thursday, December 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.95%. This is a positive change from International Paper’s previous quarterly dividend of $0.44.
International Paper (NYSE:IP) traded down 2.27% during mid-day trading on Tuesday, hitting $45.72. 2,834,596 shares of the stock traded hands. The stock’s 50 day moving average is $48.02 and its 200-day moving average is $44.30. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 24.77 and a beta of 1.55. International Paper has a 12 month low of $32.50 and a 12 month high of $49.90.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 earnings per share. On average, equities research analysts anticipate that International Paper will post $3.49 EPS for the current year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/international-paper-co-ip-declares-quarterly-dividend-of-0-46.html
Several brokerages recently issued reports on IP. Vetr downgraded shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.00 price objective on the stock. in a research note on Wednesday, June 29th. Royal Bank Of Canada reissued a “sector perform” rating and set a $42.00 price objective on shares of International Paper in a research note on Friday, July 29th. Goldman Sachs Group Inc. began coverage on shares of International Paper in a research note on Thursday, September 22nd. They set a “neutral” rating and a $49.00 price target on the stock. Citigroup Inc. increased their price target on shares of International Paper from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $47.00 price target on shares of International Paper in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. International Paper has a consensus rating of “Hold” and a consensus price target of $47.71.
In other International Paper news, CFO Carol L. Roberts sold 12,256 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wetherby Asset Management Inc. raised its position in shares of International Paper by 1.7% in the second quarter. Wetherby Asset Management Inc. now owns 5,891 shares of the company’s stock valued at $249,000 after buying an additional 98 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in shares of International Paper by 7.0% in the second quarter. BlackRock Japan Co. Ltd now owns 498,491 shares of the company’s stock valued at $21,126,000 after buying an additional 32,539 shares in the last quarter. Bank of Nova Scotia raised its position in shares of International Paper by 5.9% in the second quarter. Bank of Nova Scotia now owns 8,201 shares of the company’s stock valued at $348,000 after buying an additional 460 shares in the last quarter. Advantus Capital Management Inc raised its position in shares of International Paper by 0.8% in the second quarter. Advantus Capital Management Inc now owns 39,874 shares of the company’s stock valued at $1,690,000 after buying an additional 306 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of International Paper by 4.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 69,255 shares of the company’s stock valued at $2,935,000 after buying an additional 2,700 shares in the last quarter. 81.72% of the stock is owned by institutional investors.
About International Paper
International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
Receive News & Ratings for International Paper Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Co. and related companies with MarketBeat.com's FREE daily email newsletter.