American International Group Inc. increased its position in International Paper Co (NYSE:IP) by 9.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,080 shares of the basic materials company’s stock after purchasing an additional 16,117 shares during the period. American International Group Inc.’s holdings in International Paper were worth $10,897,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of IP. Calton & Associates Inc. bought a new position in International Paper in the fourth quarter worth about $106,000. Rational Advisors LLC bought a new position in International Paper in the third quarter worth about $108,000. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in International Paper in the fourth quarter worth about $112,000. Cerebellum GP LLC bought a new position in International Paper in the fourth quarter worth about $121,000. Finally, Amica Retiree Medical Trust bought a new position in International Paper in the third quarter worth about $128,000. Institutional investors and hedge funds own 80.61% of the company’s stock.
A number of equities analysts have issued reports on the stock. BMO Capital Markets reissued a “buy” rating and issued a $70.00 target price on shares of International Paper in a report on Thursday, January 25th. Wells Fargo & Co reissued an “outperform” rating and issued a $70.00 target price (up previously from $65.00) on shares of International Paper in a report on Monday, January 8th. DA Davidson lifted their price target on International Paper to $74.00 and gave the company a “buy” rating in a report on Friday, February 2nd. ValuEngine raised International Paper from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Bank of America lifted their price target on International Paper from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.00.
International Paper (NYSE:IP) last announced its earnings results on Thursday, February 1st. The basic materials company reported $1.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.08. International Paper had a return on equity of 29.53% and a net margin of 9.36%. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. sell-side analysts forecast that International Paper Co will post 4.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be issued a dividend of $0.475 per share. The ex-dividend date is Tuesday, February 20th. This represents a $1.90 annualized dividend and a yield of 3.19%. International Paper’s payout ratio is 36.97%.
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International Paper Profile
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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