CCM Investment Advisers LLC Has $7.59 Million Stake in International Paper Company (IP)
CCM Investment Advisers LLC reduced its holdings in shares of International Paper Company (NYSE:IP) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,650 shares of the basic materials company’s stock after selling 6,212 shares during the quarter. CCM Investment Advisers LLC’s holdings in International Paper were worth $7,593,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its position in shares of International Paper by 21.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 51,063 shares of the basic materials company’s stock valued at $2,891,000 after purchasing an additional 9,093 shares during the period. FMR LLC lifted its position in International Paper by 9.9% during the 2nd quarter. FMR LLC now owns 359,574 shares of the basic materials company’s stock worth $20,356,000 after acquiring an additional 32,461 shares during the period. Burney Co. lifted its position in International Paper by 4.5% during the 2nd quarter. Burney Co. now owns 101,543 shares of the basic materials company’s stock worth $5,654,000 after acquiring an additional 4,374 shares during the period. Homrich & Berg acquired a new stake in International Paper during the 2nd quarter worth approximately $337,000. Finally, Private Trust Co. NA lifted its position in International Paper by 10.4% during the 2nd quarter. Private Trust Co. NA now owns 5,245 shares of the basic materials company’s stock worth $296,000 after acquiring an additional 492 shares during the period. 83.30% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on IP shares. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $64.00 in a research report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price objective (up from $65.00) on shares of International Paper in a research report on Friday, July 14th. ValuEngine cut International Paper from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, BidaskClub downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. International Paper currently has a consensus rating of “Hold” and an average target price of $61.73.
International Paper Company (IP) traded down $1.31 during trading on Tuesday, reaching $55.81. The company’s stock had a trading volume of 2,328,420 shares, compared to its average volume of 1,610,000. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $22,830.00, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.71 and a beta of 1.47. International Paper Company has a one year low of $43.76 and a one year high of $58.96.
International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. International Paper’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. research analysts anticipate that International Paper Company will post 3.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. This is an increase from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, November 14th. This represents a $1.90 annualized dividend and a yield of 3.40%. International Paper’s dividend payout ratio (DPR) is presently 85.25%.
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International Paper Profile
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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