KBC Group NV raised its position in shares of International Paper Co. (NYSE:IP) by 4.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 234,748 shares of the company’s stock after buying an additional 9,443 shares during the period. KBC Group NV owned approximately 0.06% of International Paper worth $11,263,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Architects Inc boosted its position in shares of International Paper by 346.6% in the third quarter. Financial Architects Inc now owns 2,577 shares of the company’s stock valued at $124,000 after buying an additional 2,000 shares during the period. NEXT Financial Group Inc boosted its position in shares of International Paper by 109.0% in the third quarter. NEXT Financial Group Inc now owns 2,690 shares of the company’s stock valued at $129,000 after buying an additional 1,403 shares during the period. SevenBridge Financial Group LLC purchased a new position in shares of International Paper during the second quarter valued at about $141,000. Springbok Capital Management LLC boosted its position in shares of International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock valued at $171,000 after buying an additional 1,405 shares during the period. Finally, Patten & Patten Inc. TN purchased a new position in shares of International Paper during the third quarter valued at about $202,000. 81.87% of the stock is currently owned by hedge funds and other institutional investors.
International Paper Co. (NYSE:IP) traded up 0.27% during trading on Friday, hitting $48.85. The company had a trading volume of 814,365 shares. The firm’s 50 day moving average is $46.42 and its 200-day moving average is $45.32. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 23.53 and a beta of 1.52. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The business earned $5.30 billion during the quarter, compared to analyst estimates of $5.36 billion. International Paper had a return on equity of 35.28% and a net margin of 4.09%. The business’s revenue was down 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. On average, equities analysts forecast that International Paper Co. will post $3.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be paid a $0.4625 dividend. This is an increase from International Paper’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, November 10th. This represents a $1.85 annualized dividend and a dividend yield of 3.79%. International Paper’s payout ratio is 88.52%.
Several research analysts recently issued reports on the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $42.00 price objective on shares of International Paper in a research note on Friday, July 29th. Goldman Sachs Group Inc. started coverage on International Paper in a report on Thursday, September 22nd. They set a “neutral” rating and a $49.00 target price for the company. Citigroup Inc. upped their target price on International Paper from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Credit Suisse Group AG restated a “hold” rating and set a $47.00 target price on shares of International Paper in a report on Monday, August 1st. Finally, Jefferies Group upped their target price on International Paper from $47.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $47.83.
In other news, insider Thomas G. Kadien sold 10,000 shares of International Paper stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $47.86, for a total transaction of $478,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William P. Hoel sold 20,000 shares of International Paper stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $48.12, for a total transaction of $962,400.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.
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