LSV Asset Management Buys 77,600 Shares of International Paper Co. (IP)
LSV Asset Management increased its position in shares of International Paper Co. (NYSE:IP) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,620,209 shares of the company’s stock after buying an additional 77,600 shares during the period. LSV Asset Management owned about 0.39% of International Paper worth $77,737,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in IP. Atria Investments LLC bought a new stake in International Paper during the second quarter worth $692,000. Webster Bank N. A. increased its stake in International Paper by 58.0% in the second quarter. Webster Bank N. A. now owns 27,731 shares of the company’s stock worth $1,175,000 after buying an additional 10,175 shares during the last quarter. Salem Capital Management Inc. increased its stake in International Paper by 0.4% in the second quarter. Salem Capital Management Inc. now owns 140,965 shares of the company’s stock worth $5,974,000 after buying an additional 550 shares during the last quarter. FirstMerit Bank N A Trustee bought a new stake in International Paper during the second quarter worth $213,000. Finally, Trust Co bought a new stake in International Paper during the first quarter worth $205,000. 80.64% of the stock is currently owned by institutional investors.
Shares of International Paper Co. (NYSE:IP) opened at 48.84 on Wednesday. International Paper Co. has a 12 month low of $32.50 and a 12 month high of $49.90. The company has a market cap of $20.08 billion, a PE ratio of 23.53 and a beta of 1.52. The firm’s 50 day moving average is $46.51 and its 200 day moving average is $45.44.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The firm had revenue of $5.30 billion for 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 in the prior year, the business posted $0.97 EPS. On average, equities analysts predict that International Paper Co. will post $3.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a dividend of $0.4625 per share. This is a positive change from International Paper’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.85 annualized dividend and a dividend yield of 3.79%. International Paper’s dividend payout ratio (DPR) is currently 88.52%.
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A number of research firms have weighed in on IP. lifted their price objective on International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Tuesday, September 6th. Deutsche Bank AG reiterated a “hold” rating and issued a $42.00 target price on shares of International Paper in a research note on Wednesday, August 31st. Citigroup Inc. lifted their target price on shares of International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, August 31st. Goldman Sachs Group Inc. assumed coverage on shares of International Paper in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $49.00 target price for the company. Finally, Jefferies Group reiterated a “hold” rating and issued a $51.00 target price on shares of International Paper in a research note on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.83.
In other International Paper news, insider William P. Hoel sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
About International Paper
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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