International Paper (NYSE:IP) Position Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in shares of International Paper (NYSE:IPGet Rating) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,448 shares of the basic materials company’s stock after buying an additional 410 shares during the quarter. Lazard Asset Management LLC’s holdings in International Paper were worth $395,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IP. BlackRock Inc. lifted its holdings in International Paper by 12.1% in the first quarter. BlackRock Inc. now owns 35,263,405 shares of the basic materials company’s stock worth $1,627,407,000 after acquiring an additional 3,811,743 shares during the last quarter. State Street Corp lifted its holdings in International Paper by 0.9% in the first quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock worth $1,124,403,000 after acquiring an additional 218,754 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in International Paper by 7.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,506,475 shares of the basic materials company’s stock worth $300,274,000 after acquiring an additional 450,484 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in International Paper by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,169,587 shares of the basic materials company’s stock worth $238,587,000 after acquiring an additional 39,411 shares during the last quarter. Finally, Greenhaven Associates Inc. lifted its holdings in International Paper by 196.0% in the first quarter. Greenhaven Associates Inc. now owns 4,995,325 shares of the basic materials company’s stock worth $230,534,000 after acquiring an additional 3,307,625 shares during the last quarter. Institutional investors own 85.84% of the company’s stock.

Insider Activity at International Paper

In other International Paper news, SVP Timothy S. Nicholls sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $33.66, for a total value of $252,450.00. Following the transaction, the senior vice president now owns 101,897 shares in the company, valued at $3,429,853.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other International Paper news, SVP Timothy S. Nicholls sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $33.66, for a total value of $252,450.00. Following the transaction, the senior vice president now owns 101,897 shares in the company, valued at $3,429,853.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Paper Co /New/ International sold 4,614,358 shares of International Paper stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $36.25, for a total transaction of $167,270,477.50. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

International Paper Price Performance

NYSE IP opened at $35.77 on Friday. International Paper has a 12 month low of $30.69 and a 12 month high of $50.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.38 and a quick ratio of 0.97. The firm has a market capitalization of $12.72 billion, a PE ratio of 6.81 and a beta of 0.99. The company’s 50 day simple moving average is $34.03 and its 200 day simple moving average is $40.59.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.17%. International Paper’s dividend payout ratio is presently 35.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IP. Deutsche Bank Aktiengesellschaft cut shares of International Paper from a “hold” rating to a “sell” rating and cut their target price for the stock from $44.00 to $29.00 in a report on Tuesday, October 18th. StockNews.com began coverage on International Paper in a report on Wednesday, October 12th. They set a “buy” rating on the stock. KeyCorp cut their price target on International Paper from $37.00 to $27.00 and set an “underweight” rating on the stock in a report on Friday, September 30th. BMO Capital Markets cut their price target on International Paper from $60.00 to $50.00 in a report on Friday, October 28th. Finally, Citigroup cut their price target on International Paper from $46.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, October 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Hold” and an average target price of $34.44.

About International Paper

(Get Rating)

International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

See Also

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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