Dimensional Fund Advisors LP raised its stake in shares of International Paper Co (NYSE:IP) by 28.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,477,279 shares of the basic materials company’s stock after acquiring an additional 555,339 shares during the period. Dimensional Fund Advisors LP owned about 0.61% of International Paper worth $121,793,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Meiji Yasuda Life Insurance Co bought a new stake in shares of International Paper during the 3rd quarter worth $657,000. Verity Asset Management Inc. bought a new stake in shares of International Paper during the 3rd quarter worth $212,000. Gideon Capital Advisors Inc. raised its stake in shares of International Paper by 405.1% during the 3rd quarter. Gideon Capital Advisors Inc. now owns 33,293 shares of the basic materials company’s stock worth $1,636,000 after purchasing an additional 26,702 shares during the period. Pictet Asset Management Ltd. raised its stake in shares of International Paper by 15.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,242,276 shares of the basic materials company’s stock worth $61,058,000 after purchasing an additional 164,943 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of International Paper by 17.2% during the 3rd quarter. D.A. Davidson & CO. now owns 315,526 shares of the basic materials company’s stock worth $15,508,000 after purchasing an additional 46,241 shares during the period. Institutional investors and hedge funds own 81.00% of the company’s stock.
Shares of International Paper stock opened at $44.76 on Friday. International Paper Co has a 52-week low of $39.60 and a 52-week high of $66.94. The stock has a market capitalization of $18.61 billion, a P/E ratio of 12.83, a PEG ratio of 0.91 and a beta of 1.52. 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 data on Thursday, October 25th. The basic materials company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.09. International Paper had a return on equity of 29.75% and a net margin of 13.68%. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.90 billion. As a group, sell-side analysts forecast that International Paper Co will post 5.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders 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 yield of 4.47%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.48. International Paper’s payout ratio is presently 57.31%.
International Paper declared that its board has authorized a share buyback plan on Tuesday, October 9th that authorizes the company to buyback $430.00 million in shares. This buyback authorization authorizes the basic materials company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research cut International Paper from a “buy” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank set a $55.00 price objective on International Paper and gave the company a “hold” rating in a research note on Monday, October 29th. Citigroup lowered their price objective on International Paper from $67.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Barclays lowered their price objective on International Paper from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Monday, October 29th. Finally, Argus lowered their price objective on 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 company. International Paper presently has a consensus rating of “Hold” and an average target price of $58.21.
In other International Paper news, insider Jeanmichel Ribieras sold 10,000 shares of International Paper stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $54.20, for a total transaction of $542,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John V. Sims sold 4,725 shares of International Paper stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $54.35, for a total value of $256,803.75. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
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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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