Banque Cantonale Vaudoise grew its stake in shares of International Paper (NYSE:IP – Free Report) by 130.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 22,557 shares of the basic materials company’s stock after acquiring an additional 12,757 shares during the quarter. Banque Cantonale Vaudoise’s holdings in International Paper were worth $800,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Resurgent Financial Advisors LLC acquired a new position in shares of International Paper during the 4th quarter worth $27,000. Venturi Wealth Management LLC raised its holdings in shares of International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after buying an additional 753 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of International Paper by 60.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 885 shares of the basic materials company’s stock worth $31,000 after buying an additional 333 shares in the last quarter. Desjardins Global Asset Management Inc. raised its holdings in shares of International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of International Paper by 992.2% during the 2nd quarter. Quarry LP now owns 1,114 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,012 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
IP has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Truist Financial lowered their target price on International Paper from $46.00 to $40.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Finally, Jefferies Financial Group lowered their target price on International Paper from $33.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.
International Paper Trading Up 0.5 %
Shares of IP stock opened at $33.14 on Wednesday. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 40.41 and a beta of 0.99. The stock has a 50-day moving average of $36.56 and a 200-day moving average of $35.14. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. International Paper has a 1-year low of $29.00 and a 1-year high of $40.76.
International Paper (NYSE:IP – Get Free Report) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities research analysts forecast that International Paper will post 2.13 earnings per share for the current year.
International Paper Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 22nd will be issued a $0.4625 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.85 annualized dividend and a yield of 5.58%. International Paper’s payout ratio is currently 225.61%.
International Paper Company Profile
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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