International Paper Company (NYSE:IP) has been given a consensus rating of “Hold” by the sixteen research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $61.50.
A number of brokerages have commented on IP. Jefferies Group restated a “buy” rating and set a $66.00 price target on shares of International Paper in a research note on Friday, August 18th. BMO Capital Markets restated a “buy” rating on shares of International Paper in a research note on Thursday, August 17th. Zacks Investment Research cut shares of International Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. KeyCorp restated a “hold” rating on shares of International Paper in a research note on Thursday, October 12th. Finally, Stephens began coverage on shares of International Paper in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price target for the company.
Shares of International Paper (NYSE IP) opened at $56.80 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.48 and a quick ratio of 0.97. International Paper has a one year low of $49.60 and a one year high of $58.96. The firm has a market cap of $23,487.36, a PE ratio of 18.59, a P/E/G ratio of 1.71 and a beta of 1.45.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from International Paper’s previous quarterly dividend of $0.46. International Paper’s payout ratio is 87.56%.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of International Paper by 4.4% in the second quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after acquiring an additional 1,648,915 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of International Paper by 0.6% in the second quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock valued at $1,645,398,000 after purchasing an additional 184,066 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock valued at $409,080,000 after purchasing an additional 836,888 shares in the last quarter. Iridian Asset Management LLC CT increased its holdings in shares of International Paper by 20.4% in the third quarter. Iridian Asset Management LLC CT now owns 6,432,080 shares of the basic materials company’s stock valued at $365,471,000 after purchasing an additional 1,090,030 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of International Paper by 18.0% in the second quarter. Ameriprise Financial Inc. now owns 6,335,943 shares of the basic materials company’s stock valued at $359,118,000 after purchasing an additional 966,103 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.
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About International Paper
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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