Nomura Asset Management Co. Ltd. lifted its position in shares of International Paper Co (NYSE:IP) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,459 shares of the basic materials company’s stock after acquiring an additional 2,550 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in International Paper were worth $3,445,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its stake in shares of 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 period. Sawyer & Company Inc acquired a new position in International Paper during the fourth quarter worth about $1,493,000. Honeywell International Inc. grew its position in International Paper by 12.1% during the fourth quarter. Honeywell International Inc. now owns 372,900 shares of the basic materials company’s stock worth $21,606,000 after buying an additional 40,300 shares during the period. Parametric Portfolio Associates LLC grew its position in International Paper by 0.8% during the third quarter. Parametric Portfolio Associates LLC now owns 1,888,438 shares of the basic materials company’s stock worth $107,301,000 after buying an additional 14,298 shares during the period. Finally, Waverton Investment Management Ltd grew its position in International Paper by 18.4% during the fourth quarter. Waverton Investment Management Ltd now owns 14,073 shares of the basic materials company’s stock worth $815,000 after buying an additional 2,184 shares during the period. Institutional investors and hedge funds own 82.52% of the company’s stock.
Shares of International Paper Co (NYSE:IP) opened at $55.00 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.62 and a quick ratio of 1.17. The stock has a market cap of $22,703.47, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.20 and a beta of 1.47. International Paper Co has a fifty-two week low of $49.60 and a fifty-two week high of $66.94.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Tuesday, February 20th. International Paper’s payout ratio is 36.97%.
Several research analysts have weighed in on the stock. Wells Fargo & Co restated an “outperform” rating and set a $70.00 target price (up from $65.00) on shares of International Paper in a research report on Monday, January 8th. Bank of America upped their target price on shares of International Paper from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 price target on shares of International Paper in a report on Thursday, January 25th. Finally, Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $65.17.
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About International Paper
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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