International Paper Co. (IP) Raises Dividend to $0.46 Per Share
International Paper Co. (NYSE:IP) declared a quarterly dividend on Tuesday, October 11th. Shareholders of record on Tuesday, November 15th will be paid a dividend of 0.4625 per share on Thursday, December 15th. This represents a $1.85 annualized dividend and a yield of 4.05%. This is an increase from International Paper’s previous quarterly dividend of $0.44.
International Paper (NYSE:IP) opened at 45.72 on Wednesday. International Paper has a one year low of $32.50 and a one year high of $49.90. The firm has a 50-day moving average of $48.00 and a 200 day moving average of $44.31. The company has a market capitalization of $18.80 billion, a P/E ratio of 24.77 and a beta of 1.55.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The firm earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities analysts forecast that International Paper will post $3.49 EPS for the current fiscal year.
In other International Paper news, insider William P. Hoel sold 20,000 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carol L. Roberts sold 12,256 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in International Paper during the second quarter valued at approximately $422,000. Caisse DE Depot ET Placement DU Quebec raised its position in International Paper by 3.2% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 206,300 shares of the company’s stock valued at $8,743,000 after buying an additional 6,400 shares during the period. National Asset Management Inc. raised its position in International Paper by 1.9% in the second quarter. National Asset Management Inc. now owns 8,147 shares of the company’s stock valued at $347,000 after buying an additional 154 shares during the period. AHL Partners LLP raised its position in International Paper by 46.2% in the second quarter. AHL Partners LLP now owns 54,633 shares of the company’s stock valued at $2,316,000 after buying an additional 17,266 shares during the period. Finally, SevenBridge Financial Group LLC acquired a new position in International Paper during the second quarter valued at approximately $141,000. Institutional investors and hedge funds own 81.72% of the company’s stock.
Several research analysts have recently weighed in on IP shares. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a report on Monday, October 3rd. Citigroup Inc. boosted their price objective on shares of International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, August 31st. Deutsche Bank AG set a $50.00 price objective on shares of International Paper and gave the company a “hold” rating in a report on Friday, September 23rd. Credit Agricole SA boosted their price objective on shares of International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Tuesday, September 6th. Finally, Jefferies Group reissued a “hold” rating on shares of International Paper in a report on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. International Paper has an average rating of “Hold” and a consensus price target of $47.71.
International Paper Company Profile
International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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