Daiwa Securities Group Inc. Increases Stock Position in International Paper Co (NYSE:IP)
Daiwa Securities Group Inc. grew its stake in International Paper Co (NYSE:IP) by 2.0% in the 3rd quarter, Holdings Channel reports. The firm owned 15,880 shares of the basic materials company’s stock after purchasing an additional 310 shares during the period. Daiwa Securities Group Inc.’s holdings in International Paper were worth $664,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Proffitt & Goodson Inc. acquired a new position in International Paper during the third quarter worth approximately $33,000. Citizens Financial Group Inc RI boosted its position in International Paper by 138.4% during the second quarter. Citizens Financial Group Inc RI now owns 801 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 465 shares in the last quarter. Phocas Financial Corp. purchased a new stake in International Paper during the second quarter worth $45,000. Capital Investment Advisory Services LLC boosted its position in International Paper by 83.3% during the third quarter. Capital Investment Advisory Services LLC now owns 1,100 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Finally, CSat Investment Advisory L.P. boosted its position in International Paper by 218.6% during the second quarter. CSat Investment Advisory L.P. now owns 1,099 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 754 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.
IP has been the topic of a number of research analyst reports. Citigroup decreased their target price on International Paper from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. KeyCorp restated a “sell” rating and issued a $38.00 price objective on shares of International Paper in a research report on Thursday, October 31st. ValuEngine upgraded International Paper from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Stephens set a $50.00 price objective on International Paper and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Zacks Investment Research upgraded International Paper from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus price target of $44.22.
IP stock opened at $45.85 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.49. International Paper Co has a 1 year low of $36.45 and a 1 year high of $48.24. The firm has a market cap of $18.02 billion, a P/E ratio of 8.62 and a beta of 1.53. The stock has a 50-day simple moving average of $42.33 and a 200-day simple moving average of $42.47.
International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. International Paper had a return on equity of 26.97% and a net margin of 6.03%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that International Paper Co will post 4.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.5125 dividend. The ex-dividend date is Thursday, November 14th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 4.47%. This is a positive change from International Paper’s previous quarterly dividend of $0.50. International Paper’s dividend payout ratio (DPR) is 37.59%.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Co (NYSE:IP).
Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.