Gulf International Bank UK Ltd Has $6.57 Million Stake in International Paper Co (IP)

Gulf International Bank UK Ltd boosted its stake in International Paper Co (NYSE:IP) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,602 shares of the basic materials company’s stock after buying an additional 10,100 shares during the period. Gulf International Bank UK Ltd’s holdings in International Paper were worth $6,566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Mn Services Vermogensbeheer B.V. lifted its holdings in International Paper by 3.4% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 63,127 shares of the basic materials company’s stock worth $3,103,000 after buying an additional 2,100 shares during the period. Virginia Retirement Systems ET AL lifted its holdings in International Paper by 6.8% in the third quarter. Virginia Retirement Systems ET AL now owns 134,600 shares of the basic materials company’s stock worth $6,616,000 after buying an additional 8,600 shares during the period. WINTON GROUP Ltd lifted its holdings in International Paper by 77.7% in the third quarter. WINTON GROUP Ltd now owns 6,979 shares of the basic materials company’s stock worth $343,000 after buying an additional 3,052 shares during the period. American Century Companies Inc. lifted its holdings in International Paper by 63.1% in the third quarter. American Century Companies Inc. now owns 829,528 shares of the basic materials company’s stock worth $40,771,000 after buying an additional 320,798 shares during the period. Finally, HL Financial Services LLC lifted its holdings in International Paper by 19.4% in the third quarter. HL Financial Services LLC now owns 37,750 shares of the basic materials company’s stock worth $1,855,000 after buying an additional 6,136 shares during the period. Institutional investors and hedge funds own 82.24% of the company’s stock.

Several brokerages have commented on IP. Barclays lowered their price objective on shares of International Paper from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Monday, October 29th. Argus lowered their price objective on shares of International Paper from $70.00 to $55.00 and set a “buy” rating for the company in a report on Monday, October 29th. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Deutsche Bank set a $55.00 price objective on shares of International Paper and gave the stock a “hold” rating in a report on Monday, October 29th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $55.00 price objective on shares of International Paper in a report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $58.64.

Shares of NYSE IP opened at $46.22 on Friday. International Paper Co has a fifty-two week low of $39.60 and a fifty-two week high of $66.94. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 0.94 and a beta of 1.53. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 1.52.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.09. International Paper had a net margin of 13.68% and a return on equity of 29.75%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.90 billion. On average, sell-side analysts anticipate that International Paper Co will post 5.31 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.50 per share. This is an increase 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 4.33%. International Paper’s dividend payout ratio (DPR) is currently 54.44%.

International Paper announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 9th that permits the company to buyback $430.00 million in shares. This buyback authorization permits the basic materials company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

In related news, insider Jeanmichel Ribieras sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $54.20, for a total transaction of $542,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy S. Nicholls sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total transaction of $893,010.00. Following the sale, the insider now directly owns 108,538 shares of the company’s stock, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. Insiders have sold 31,725 shares of company stock valued at $1,691,814 in the last ninety days. Insiders own 0.32% of the company’s stock.

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International Paper Profile

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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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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