American Century Companies Inc. Has $23.86 Million Stake in International Paper Company (IP)
American Century Companies Inc. grew its position in International Paper Company (NYSE:IP) by 1,741.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,932 shares of the basic materials company’s stock after buying an additional 397,133 shares during the quarter. American Century Companies Inc. owned 0.10% of International Paper worth $23,861,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in International Paper by 4.4% during the 2nd quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock worth $2,198,257,000 after purchasing an additional 1,648,915 shares in the last quarter. Vanguard Group Inc. grew its holdings in International Paper by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock worth $1,645,398,000 after acquiring an additional 184,066 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in International Paper by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock worth $409,080,000 after acquiring an additional 836,888 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in International Paper by 18.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,335,943 shares of the basic materials company’s stock worth $359,118,000 after acquiring an additional 966,103 shares during the last quarter. Finally, Iridian Asset Management LLC CT grew its holdings in International Paper by 42.6% during the 2nd quarter. Iridian Asset Management LLC CT now owns 5,342,050 shares of the basic materials company’s stock worth $302,413,000 after acquiring an additional 1,596,230 shares during the last quarter. Institutional investors own 82.63% of the company’s stock.
International Paper Company (IP) opened at $53.89 on Thursday. The stock has a market cap of $22,434.39, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.63 and a beta of 1.46. International Paper Company has a 12 month low of $47.72 and a 12 month high of $58.96. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48.
International Paper (NYSE:IP) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. International Paper had a net margin of 4.00% and a return on equity of 27.56%. International Paper’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. analysts predict that International Paper Company will post 3.5 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.475 per share. The ex-dividend date is Tuesday, November 14th. 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 3.53%. International Paper’s dividend payout ratio is currently 87.56%.
A number of equities research analysts have weighed in on IP shares. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 target price on shares of International Paper in a report on Monday, August 21st. Jefferies Group LLC reissued a “buy” rating and set a $66.00 target price on shares of International Paper in a report on Friday, August 18th. BMO Capital Markets reissued a “buy” rating on shares of International Paper in a report on Thursday, August 17th. DA Davidson raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $53.75 to $62.00 in a report on Monday, August 14th. Finally, Vertical Research reaffirmed a “buy” rating on shares of International Paper in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. International Paper has an average rating of “Hold” and a consensus price target of $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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