FDx Advisors Inc. Has $2.59 Million Holdings in International Paper Company (IP)
FDx Advisors Inc. boosted its position in International Paper Company (NYSE:IP) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,520 shares of the company’s stock after purchasing an additional 1,946 shares during the period. FDx Advisors Inc.’s holdings in International Paper were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in IP. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of International Paper during the second quarter worth approximately $424,000. IHT Wealth Management LLC increased its position in shares of International Paper by 26.8% during the second quarter. IHT Wealth Management LLC now owns 1,310 shares of the company’s stock worth $650,000 after acquiring an additional 277 shares during the period. Quadrant Capital Group LLC increased its position in shares of International Paper by 2.4% during the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the company’s stock worth $107,000 after acquiring an additional 47 shares during the period. Ffcm LLC increased its position in shares of International Paper by 148.0% during the second quarter. Ffcm LLC now owns 2,081 shares of the company’s stock worth $119,000 after acquiring an additional 1,242 shares during the period. Finally, Asset Advisors Corp increased its position in shares of International Paper by 3.6% during the second quarter. Asset Advisors Corp now owns 2,398 shares of the company’s stock worth $136,000 after acquiring an additional 84 shares during the period. 83.30% of the stock is owned by institutional investors and hedge funds.
International Paper Company (IP) traded down C$0.09 during midday trading on Friday, reaching C$54.85. 1,790,000 shares of the company’s stock traded hands, compared to its average volume of 1,695,832. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. International Paper Company has a fifty-two week low of C$45.19 and a fifty-two week high of C$58.96. The stock has a market capitalization of $22,649.10, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.65 and a beta of 1.46.
International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, October 25th. The company reported C$1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.04 by C$0.04. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The business had revenue of C$5.91 billion for the quarter, compared to analyst estimates of C$5.85 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. analysts forecast that International Paper Company will post 3.5 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.475 dividend. This is a positive change from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s payout ratio is currently 85.25%.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. DA Davidson raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.75 to $62.00 in a research report on Monday, August 14th. Deutsche Bank AG reaffirmed a “hold” rating and set a $56.00 target price (up from $54.00) on shares of International Paper in a research report on Monday, October 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 target price on shares of International Paper in a research report on Monday, August 21st. Finally, Barclays PLC reaffirmed a “sell” rating and set a $50.00 target price on shares of International Paper in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. International Paper presently has an average rating of “Hold” and an average price target of C$61.73.
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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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