Motco increased its stake in International Paper Co (NYSE:IP) by 19.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,058 shares of the basic materials company’s stock after buying an additional 15,131 shares during the quarter. Motco’s holdings in International Paper were worth $3,808,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC increased its position in International Paper by 4.3% in the 1st quarter. FMR LLC now owns 391,110 shares of the basic materials company’s stock valued at $18,096,000 after acquiring an additional 16,114 shares during the period. South Texas Money Management Ltd. increased its position in International Paper by 4.5% in the 2nd quarter. South Texas Money Management Ltd. now owns 972,114 shares of the basic materials company’s stock valued at $42,112,000 after acquiring an additional 42,080 shares during the period. Foundations Investment Advisors LLC increased its position in International Paper by 27.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 22,401 shares of the basic materials company’s stock valued at $988,000 after acquiring an additional 4,806 shares during the period. Investors Research Corp increased its position in International Paper by 1.4% in the 2nd quarter. Investors Research Corp now owns 21,607 shares of the basic materials company’s stock valued at $936,000 after acquiring an additional 300 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in shares of International Paper by 81.6% in the 2nd quarter. WINTON GROUP Ltd now owns 17,503 shares of the basic materials company’s stock valued at $758,000 after purchasing an additional 7,863 shares during the last quarter. Institutional investors own 81.65% of the company’s stock.
In related news, SVP Timothy S. Nicholls sold 45,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $42.44, for a total transaction of $1,909,800.00. Following the transaction, the senior vice president now directly owns 60,490 shares of the company’s stock, valued at $2,567,195.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.
IP has been the topic of a number of analyst reports. ValuEngine raised shares of International Paper from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Co reduced their price objective on shares of International Paper from $43.00 to $42.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 8th. Citigroup reduced their price objective on shares of International Paper from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Stephens set a $50.00 price objective on shares of International Paper and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Zacks Investment Research raised shares of International Paper from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.22.
NYSE IP traded down $0.23 on Monday, hitting $45.99. 1,004,053 shares of the company were exchanged, compared to its average volume of 3,101,895. The company has a market cap of $17.82 billion, a PE ratio of 8.64, a PEG ratio of 2.06 and a beta of 1.53. International Paper Co has a 12 month low of $36.45 and a 12 month high of $48.24. The stock has a fifty day moving average of $41.92 and a 200-day moving average of $42.44. The company has a current ratio of 1.49, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37.
International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.63 billion. International Paper had a net margin of 6.03% and a return on equity of 26.97%. International Paper’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. On average, analysts expect that International Paper Co will post 4.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.5125 per share. The ex-dividend date is Thursday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.50. This represents a $2.05 annualized dividend and a yield of 4.46%. International Paper’s dividend payout ratio is currently 37.59%.
About International Paper
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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