Laurel Wealth Advisors Inc. Purchases Shares of 6,032 International Paper Company (IP)
Laurel Wealth Advisors Inc. purchased a new position in shares of International Paper Company (NYSE:IP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,032 shares of the basic materials company’s stock, valued at approximately $342,000.
Several other large investors also recently bought and sold shares of IP. Quadrant Capital Group LLC boosted its position in shares of International Paper by 2.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after buying an additional 47 shares in the last quarter. Rational Advisors LLC purchased a new stake in shares of International Paper in the 3rd quarter worth about $108,000. Ffcm LLC boosted its position in shares of International Paper by 148.0% in the 2nd quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares in the last quarter. Amica Retiree Medical Trust purchased a new stake in shares of International Paper in the 3rd quarter worth about $128,000. Finally, Krilogy Financial LLC boosted its position in shares of International Paper by 9.3% in the 2nd quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock worth $140,000 after buying an additional 210 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on IP. DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.75 to $62.00 in a research report on Monday, August 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price objective on shares of International Paper in a research report on Monday, October 23rd. Deutsche Bank reiterated a “hold” rating and issued a $56.00 price objective (up from $54.00) on shares of International Paper in a research report on Monday, October 9th. BMO Capital Markets reiterated a “buy” rating on shares of International Paper in a research report on Thursday, August 17th. Finally, Barclays boosted their price objective on shares of International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. International Paper currently has a consensus rating of “Hold” and a consensus target price of $61.73.
International Paper (NYSE:IP) last released its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.04. The company 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%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. equities analysts predict that International Paper Company will post 3.51 earnings per share for the current year.
The company also recently announced 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 represents a $1.90 dividend on an annualized basis and a yield of 3.32%. This is a positive change from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s dividend payout ratio is 87.56%.
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International Paper Company 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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