International Paper (IP) Sets New 12-Month High at $62.73
Shares of International Paper Company (NYSE:IP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $62.73 and last traded at $61.49, with a volume of 1547300 shares. The stock had previously closed at $61.23.
IP has been the subject of a number of recent analyst reports. Credit Suisse Group raised their price objective on International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. ValuEngine downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, January 2nd. Wells Fargo & Co reissued an “outperform” rating and set a $70.00 price objective (up from $65.00) on shares of International Paper in a research report on Monday, January 8th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $65.00 price objective on shares of International Paper in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. International Paper presently has a consensus rating of “Hold” and a consensus price target of $63.25.
The company has a market cap of $26,220.00, a PE ratio of 29.26, a price-to-earnings-growth ratio of 1.44 and a beta of 1.47. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 2.99%. The ex-dividend date is Tuesday, February 20th. International Paper’s dividend payout ratio is currently 87.56%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC grew its position in International Paper by 26.8% in the 2nd quarter. IHT Wealth Management LLC now owns 1,310 shares of the basic materials company’s stock valued at $650,000 after acquiring an additional 277 shares in the last quarter. Rational Advisors LLC acquired a new position in International Paper in the 3rd quarter valued at about $108,000. Quadrant Capital Group LLC grew its position in 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 valued at $107,000 after acquiring an additional 47 shares in the last quarter. Amica Retiree Medical Trust acquired a new position in International Paper in the 3rd quarter valued at about $128,000. Finally, Krilogy Financial LLC grew its position in International Paper by 9.3% in the 2nd quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 210 shares in the last quarter. 81.88% of the stock is owned by institutional investors.
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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