Dynamic Technology Lab Private Ltd raised its holdings in International Paper Co (NYSE:IP) by 19.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,675 shares of the basic materials company’s stock after buying an additional 4,670 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in International Paper were worth $1,409,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Qube Research & Technologies Ltd acquired a new stake in shares of International Paper in the 2nd quarter valued at $106,000. Girard Partners LTD. acquired a new stake in shares of International Paper in the 3rd quarter valued at $109,000. Meeder Asset Management Inc. acquired a new stake in shares of International Paper in the 3rd quarter valued at $133,000. Flagship Harbor Advisors LLC acquired a new stake in shares of International Paper in the 2nd quarter valued at $139,000. Finally, Diamant Asset Management Inc. acquired a new stake in shares of International Paper in the 3rd quarter valued at $140,000. 81.00% of the stock is owned by institutional investors.
In other International Paper news, SVP John V. Sims sold 4,725 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $54.35, for a total transaction of $256,803.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeanmichel Ribieras sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $54.20, for a total transaction of $542,000.00. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Shares of NYSE:IP opened at $44.76 on Friday. International Paper Co has a 12 month low of $39.60 and a 12 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. The firm has a market cap of $18.27 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.89 and a beta of 1.52.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 25th. The basic materials company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.90 billion. Equities analysts expect that International Paper Co will post 5.31 EPS for the current fiscal year.
International Paper declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 9th that allows the company to buyback $430.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a dividend of $0.50 per share. This is a positive change from International Paper’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Wednesday, November 14th. International Paper’s dividend payout ratio (DPR) is currently 57.31%.
IP has been the topic of a number of analyst reports. Stephens set a $57.00 price objective on shares of International Paper and gave the company a “hold” rating in a report on Tuesday, September 11th. Zacks Investment Research lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, September 21st. ValuEngine lowered shares of International Paper from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 3rd. BMO Capital Markets lowered 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 report on Tuesday, October 9th. Finally, Goldman Sachs Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price objective on the stock. in a report on Wednesday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $58.21.
About International Paper
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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