Several other brokerages have also issued reports on IP. KeyCorp reiterated a sell rating and issued a $38.00 price target on shares of International Paper in a report on Thursday, October 31st. Zacks Investment Research upgraded shares of International Paper from a sell rating to a hold rating and set a $47.00 target price on the stock in a report on Tuesday, November 5th. Exane BNP Paribas began coverage on shares of International Paper in a research report on Monday. They issued an outperform rating and a $53.00 price target on the stock. Stephens set a $50.00 price target on shares of International Paper and gave the company a hold rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Co decreased their price objective on shares of International Paper from $43.00 to $42.00 and set a market perform rating for the company in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $45.82.
Shares of NYSE IP opened at $46.08 on Tuesday. The firm has a market cap of $18.17 billion, a PE ratio of 8.66 and a beta of 1.53. International Paper has a 12-month low of $36.45 and a 12-month high of $48.24. The company’s fifty day simple moving average is $44.49 and its 200 day simple moving average is $42.47. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 1.37.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.50. International Paper’s dividend payout ratio is currently 38.53%.
In related news, SVP W. Michael Jr. Amick sold 8,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $44.83, for a total value of $358,640.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy S. Nicholls sold 45,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $42.44, for a total transaction of $1,909,800.00. Following the sale, the senior vice president now directly owns 60,490 shares in the company, valued at $2,567,195.60. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of International Paper by 32.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 925 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of International Paper by 1.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 14,812 shares of the basic materials company’s stock valued at $619,000 after acquiring an additional 228 shares during the last quarter. Fulcrum Capital LLC bought a new position in shares of International Paper in the 3rd quarter valued at about $15,139,000. Shulman DeMeo Asset Management LLC grew its position in International Paper by 3.0% in the third quarter. Shulman DeMeo Asset Management LLC now owns 8,403 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 245 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its position in International Paper by 15.5% in the third quarter. Carroll Financial Associates Inc. now owns 1,930 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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