Security National Bank of Sioux City Iowa IA raised its holdings in International Paper (NYSE:IP) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,221 shares of the basic materials company’s stock after acquiring an additional 658 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in International Paper were worth $877,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in International Paper by 23.5% in the first quarter. JPMorgan Chase & Co. now owns 1,569,832 shares of the basic materials company’s stock valued at $84,881,000 after acquiring an additional 298,767 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of International Paper during the 1st quarter worth $211,000. Ritholtz Wealth Management raised its stake in shares of International Paper by 20.8% during the 1st quarter. Ritholtz Wealth Management now owns 10,090 shares of the basic materials company’s stock worth $546,000 after buying an additional 1,736 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of International Paper during the 1st quarter worth $37,000. Finally, Norinchukin Bank The raised its stake in shares of International Paper by 1.7% during the 1st quarter. Norinchukin Bank The now owns 32,712 shares of the basic materials company’s stock worth $1,769,000 after buying an additional 540 shares during the last quarter. 80.14% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on IP shares. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday. Wells Fargo & Company lifted their price objective on International Paper from $66.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on International Paper from $49.00 to $58.00 in a research report on Monday, April 19th. Zacks Investment Research upgraded International Paper from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, May 11th. Finally, Jefferies Financial Group lifted their price objective on International Paper from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, June 4th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. International Paper presently has a consensus rating of “Buy” and an average price target of $62.36.
International Paper (NYSE:IP) last issued its earnings results on Thursday, April 29th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. International Paper had a return on equity of 15.84% and a net margin of 4.72%. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts expect that International Paper will post 4.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Thursday, May 27th will be issued a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, May 26th. International Paper’s payout ratio is currently 73.21%.
In related news, SVP John V. Sims sold 8,909 shares of the business’s stock in a transaction that occurred on Thursday, May 20th. The stock was sold at an average price of $62.87, for a total transaction of $560,108.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.
International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. 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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