TD Asset Management Inc. lessened its position in International Paper Company (NYSE:IP) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,807 shares of the basic materials company’s stock after selling 7,229 shares during the quarter. TD Asset Management Inc.’s holdings in International Paper were worth $8,626,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Harbour Capital Advisors LLC increased its holdings in shares of International Paper by 5,561.1% in the second quarter. Harbour Capital Advisors LLC now owns 25,475 shares of the basic materials company’s stock valued at $450,000 after purchasing an additional 25,025 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of International Paper by 4.6% in the second quarter. Bessemer Group Inc. now owns 19,424 shares of the basic materials company’s stock valued at $1,099,000 after purchasing an additional 852 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of International Paper by 0.9% in the second quarter. Daiwa Securities Group Inc. now owns 11,150 shares of the basic materials company’s stock valued at $631,000 after purchasing an additional 100 shares during the last quarter. Sei Investments Co. increased its holdings in shares of International Paper by 17.3% in the second quarter. Sei Investments Co. now owns 364,700 shares of the basic materials company’s stock valued at $20,647,000 after purchasing an additional 53,843 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of International Paper by 4.5% in the second quarter. Stratos Wealth Partners LTD. now owns 12,665 shares of the basic materials company’s stock valued at $717,000 after purchasing an additional 544 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.
International Paper Company (NYSE:IP) traded down $0.98 during mid-day trading on Monday, reaching $55.63. The company’s stock had a trading volume of 2,808,300 shares, compared to its average volume of 2,331,244. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48. The firm has a market capitalization of $22,971.20, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. International Paper Company has a one year low of $49.37 and a one year high of $58.96.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.475 per share. This is a boost from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a yield of 3.42%. International Paper’s dividend payout ratio (DPR) is 87.56%.
Several equities research analysts recently commented on the company. Stephens assumed coverage on International Paper in a report on Tuesday, October 24th. They issued an “equal weight” rating and a $60.00 price target for the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 price target on shares of International Paper in a report on Monday, October 23rd. Credit Suisse Group increased their price target on International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Monday, October 30th. Finally, Barclays increased their price target on International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. International Paper currently has an average rating of “Hold” and an average price target of $61.73.
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About International Paper
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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