Marshall Wace LLP acquired a new stake in International Paper (NYSE:IP – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 173,774 shares of the basic materials company’s stock, valued at approximately $5,508,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of International Paper by 0.9% in the first quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock valued at $1,124,403,000 after purchasing an additional 218,754 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of International Paper by 7.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,506,475 shares of the basic materials company’s stock valued at $300,274,000 after purchasing an additional 450,484 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of International Paper by 0.5% in the third quarter. Nordea Investment Management AB now owns 5,963,318 shares of the basic materials company’s stock valued at $193,987,000 after purchasing an additional 27,986 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of International Paper by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 5,232,061 shares of the basic materials company’s stock valued at $165,880,000 after acquiring an additional 69,539 shares during the period. Finally, Northern Trust Corp boosted its position in shares of International Paper by 7.6% in the second quarter. Northern Trust Corp now owns 4,642,484 shares of the basic materials company’s stock valued at $194,196,000 after acquiring an additional 328,208 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other International Paper news, SVP Aimee K. Gregg sold 1,862 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $36.05, for a total transaction of $67,125.10. Following the completion of the transaction, the senior vice president now owns 4,260 shares of the company’s stock, valued at $153,573. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Aimee K. Gregg sold 1,862 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $36.05, for a total value of $67,125.10. Following the completion of the transaction, the senior vice president now owns 4,260 shares of the company’s stock, valued at $153,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy S. Nicholls sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $38.95, for a total value of $194,750.00. Following the completion of the transaction, the senior vice president now directly owns 129,261 shares of the company’s stock, valued at approximately $5,034,715.95. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
International Paper Stock Down 1.9 %
International Paper (NYSE:IP – Get Rating) last issued its earnings results on Tuesday, January 31st. The basic materials company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.69 by $0.18. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.20 billion. International Paper had a return on equity of 15.81% and a net margin of 7.11%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, analysts forecast that International Paper will post 2.86 earnings per share for the current fiscal year.
International Paper Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, February 17th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 5.21%. The ex-dividend date is Thursday, February 16th. International Paper’s payout ratio is 45.45%.
Analysts Set New Price Targets
IP has been the subject of a number of recent research reports. Argus boosted their target price on shares of International Paper from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Citigroup boosted their target price on shares of International Paper from $36.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Wells Fargo & Company boosted their target price on shares of International Paper from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. UBS Group raised shares of International Paper from a “sell” rating to a “neutral” rating and boosted their target price for the company from $31.00 to $43.00 in a research report on Friday, February 3rd. Finally, Royal Bank of Canada upped their price objective on shares of International Paper from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, International Paper has an average rating of “Hold” and an average price target of $38.82.
International Paper 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 is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
Featured Articles
- Get a free copy of the StockNews.com research report on International Paper (IP)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
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.
