Rhumbline Advisers raised its stake in International Paper Co (NYSE:IP) by 0.5% in the fourth quarter, Holdings Channel reports. The fund owned 778,071 shares of the basic materials company’s stock after purchasing an additional 3,993 shares during the quarter. Rhumbline Advisers’ holdings in International Paper were worth $45,081,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. FMR LLC raised its holdings in shares of International Paper by 9.9% in the second quarter. FMR LLC now owns 359,574 shares of the basic materials company’s stock worth $20,356,000 after acquiring an additional 32,461 shares during the last quarter. Piedmont Investment Advisors LLC grew its position in shares of International Paper by 0.5% in the second quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock valued at $245,000 after purchasing an additional 20 shares during the period. Advisory Services Network LLC grew its position in shares of International Paper by 188.8% in the second quarter. Advisory Services Network LLC now owns 2,533 shares of the basic materials company’s stock valued at $143,000 after purchasing an additional 1,656 shares during the period. Intl Fcstone Inc. purchased a new stake in shares of International Paper in the second quarter valued at $284,000. Finally, Shell Asset Management Co. grew its position in shares of International Paper by 131.4% in the third quarter. Shell Asset Management Co. now owns 59,459 shares of the basic materials company’s stock valued at $2,839,000 after purchasing an additional 33,767 shares during the period. 80.61% of the stock is owned by institutional investors.
Shares of International Paper Co (NYSE IP) opened at $58.94 on Monday. International Paper Co has a 1 year low of $49.60 and a 1 year high of $66.94. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.17 and a current ratio of 1.62. The stock has a market capitalization of $24,337.99, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.49.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, February 20th. International Paper’s dividend payout ratio (DPR) is presently 36.97%.
A number of brokerages have recently commented on IP. Bank of America lifted their price objective on International Paper from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 price objective on shares of International Paper in a research report on Monday, October 23rd. Barclays lifted their price objective on International Paper from $52.00 to $55.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. ValuEngine raised International Paper from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.00.
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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