International Paper Company (IP) Shares Sold by Private Advisor Group LLC
Private Advisor Group LLC lowered its holdings in International Paper Company (NYSE:IP) by 4.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,067 shares of the basic materials company’s stock after selling 2,106 shares during the quarter. Private Advisor Group LLC’s holdings in International Paper were worth $2,798,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Stifel Financial Corp raised its position in International Paper by 1.9% in the third quarter. Stifel Financial Corp now owns 1,762,351 shares of the basic materials company’s stock valued at $100,149,000 after purchasing an additional 33,067 shares during the period. San Francisco Sentry Investment Group CA raised its position in International Paper by 99.9% in the third quarter. San Francisco Sentry Investment Group CA now owns 7,750 shares of the basic materials company’s stock valued at $440,000 after purchasing an additional 3,873 shares during the period. FDO Partners LLC purchased a new stake in International Paper in the third quarter valued at $1,518,000. Tredje AP fonden raised its position in International Paper by 10.8% in the third quarter. Tredje AP fonden now owns 46,175 shares of the basic materials company’s stock valued at $2,624,000 after purchasing an additional 4,510 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its position in International Paper by 186.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 14,251 shares of the basic materials company’s stock valued at $810,000 after purchasing an additional 9,268 shares during the period. Institutional investors own 81.98% of the company’s stock.
A number of equities research analysts have recently weighed in on IP shares. DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.75 to $62.00 in a research note on Monday, August 14th. BMO Capital Markets reaffirmed a “buy” rating on shares of International Paper in a research note on Thursday, August 17th. Jefferies Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of International Paper in a research note on Friday, August 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 price objective on shares of International Paper in a research note on Monday, August 21st. Finally, Zacks Investment Research cut International Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.73.
International Paper (NYSE:IP) last released its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.04. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the firm posted $0.91 EPS. International Paper’s revenue for the quarter was up 12.3% on a year-over-year basis. analysts expect 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. This represents a $1.90 annualized dividend and a yield of 3.34%. This is a boost from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, November 14th. International Paper’s payout ratio is presently 87.56%.
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About International Paper
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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