HL Financial Services LLC increased its stake in shares of International Paper Co (NYSE:IP) by 19.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,750 shares of the basic materials company’s stock after purchasing an additional 6,136 shares during the quarter. HL Financial Services LLC’s holdings in International Paper were worth $1,855,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in International Paper by 0.5% in the second quarter. BlackRock Inc. now owns 36,790,627 shares of the basic materials company’s stock valued at $1,916,056,000 after acquiring an additional 201,122 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in International Paper by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,715,616 shares of the basic materials company’s stock valued at $141,430,000 after acquiring an additional 73,282 shares during the last quarter. Levin Capital Strategies L.P. boosted its stake in International Paper by 25.9% in the third quarter. Levin Capital Strategies L.P. now owns 2,351,655 shares of the basic materials company’s stock valued at $115,584,000 after acquiring an additional 484,156 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in International Paper by 16.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,921,940 shares of the basic materials company’s stock valued at $100,100,000 after acquiring an additional 269,329 shares during the last quarter. Finally, Swiss National Bank boosted its stake in International Paper by 3.1% in the second quarter. Swiss National Bank now owns 1,297,818 shares of the basic materials company’s stock valued at $67,590,000 after acquiring an additional 39,200 shares during the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Jeanmichel Ribieras sold 10,000 shares of the firm’s stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John V. Sims sold 4,725 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $54.35, for a total transaction of $256,803.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,725 shares of company stock worth $1,691,814. 0.32% of the stock is currently owned by company insiders.
Shares of NYSE IP opened at $46.22 on Friday. The firm has a market cap of $19.19 billion, a PE ratio of 13.24, a PEG ratio of 0.94 and a beta of 1.53. International Paper Co has a twelve month low of $39.60 and a twelve month high of $66.94. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 1.52.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.09. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a net margin of 13.68% and a return on equity of 29.75%. As a group, equities analysts anticipate that International Paper Co will post 5.31 earnings per share for the current fiscal year.
International Paper announced that its Board of Directors has approved a share repurchase program on Tuesday, October 9th that authorizes the company to buyback $430.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.33%. This is a positive change from International Paper’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Wednesday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 54.44%.
A number of brokerages have issued reports on IP. ValuEngine raised shares of International Paper from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 24th. BMO Capital Markets cut shares of International Paper from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $66.00 to $51.00 in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Barclays reduced their price objective on shares of International Paper from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Monday, July 30th. Finally, Argus reduced their price objective on shares of International Paper from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. International Paper currently has an average rating of “Hold” and an average target price of $58.64.
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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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