HBK Investments L P grew its stake in shares of International Paper Co (NYSE:IP) by 377.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,200 shares of the basic materials company’s stock after acquiring an additional 245,200 shares during the period. HBK Investments L P owned 0.08% of International Paper worth $17,973,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in International Paper by 16.7% during the third quarter. Oppenheimer & Co. Inc. now owns 59,568 shares of the basic materials company’s stock worth $3,385,000 after acquiring an additional 8,505 shares during the last quarter. Sawyer & Company Inc acquired a new stake in International Paper during the fourth quarter worth approximately $1,493,000. Honeywell International Inc. raised its position in shares of International Paper by 12.1% in the fourth quarter. Honeywell International Inc. now owns 372,900 shares of the basic materials company’s stock valued at $21,606,000 after buying an additional 40,300 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of International Paper by 0.8% in the third quarter. Parametric Portfolio Associates LLC now owns 1,888,438 shares of the basic materials company’s stock valued at $107,301,000 after buying an additional 14,298 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of International Paper by 0.3% in the third quarter. Retirement Systems of Alabama now owns 757,467 shares of the basic materials company’s stock valued at $43,039,000 after buying an additional 1,898 shares in the last quarter. Hedge funds and other institutional investors own 82.52% of the company’s stock.
A number of equities research analysts have recently weighed in on IP shares. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, February 6th. DA Davidson lifted their price target on shares of International Paper to $74.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. ValuEngine upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America lifted their price target on shares of International Paper from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $70.00 price target on shares of International Paper in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. International Paper currently has a consensus rating of “Hold” and an average target price of $65.17.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.27 EPS for the quarter, beating 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 business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. equities research analysts anticipate that International Paper Co will post 4.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $1.90 annualized dividend and a yield of 3.46%. International Paper’s dividend payout ratio is currently 36.97%.
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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