Keybank National Association OH raised its holdings in shares of International Paper (NYSE:IP – Get Rating) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,785 shares of the basic materials company’s stock after buying an additional 369 shares during the quarter. Keybank National Association OH’s holdings in International Paper were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in shares of International Paper by 5.4% in the 3rd quarter. Royal Bank of Canada now owns 4,019,663 shares of the basic materials company’s stock valued at $127,424,000 after acquiring an additional 206,004 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of International Paper by 79.5% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 14,275 shares of the basic materials company’s stock valued at $452,000 after acquiring an additional 6,322 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of International Paper by 1,459.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 11,864 shares of the basic materials company’s stock valued at $376,000 after acquiring an additional 11,103 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of International Paper in the 4th quarter valued at about $322,000. Finally, Verdence Capital Advisors LLC lifted its stake in shares of International Paper by 6.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 9,893 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 632 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Argus upped their price target on International Paper from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. StockNews.com assumed coverage on International Paper in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Royal Bank of Canada upped their price target on International Paper from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 1st. Wells Fargo & Company upped their price objective on International Paper from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Finally, UBS Group raised International Paper from a “sell” rating to a “neutral” rating and upped their price objective for the company from $31.00 to $43.00 in a research report on Friday, February 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus target price of $38.82.
International Paper Trading Down 0.1 %
International Paper (NYSE:IP – Get Rating) last released its quarterly 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 company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.20 billion. International Paper had a return on equity of 15.81% and a net margin of 7.11%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. Equities research analysts anticipate that International Paper will post 2.91 EPS for the current fiscal year.
Insiders Place Their Bets
In other International Paper news, SVP Joseph R. Saab sold 1,705 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $35.35, for a total value of $60,271.75. Following the completion of the sale, the senior vice president now owns 1,671 shares of the company’s stock, valued at $59,069.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other International Paper news, SVP Timothy S. Nicholls sold 5,000 shares of International Paper stock in a transaction 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 transaction, the senior vice president now directly owns 129,261 shares of the company’s stock, valued at $5,034,715.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph R. Saab sold 1,705 shares of International Paper stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $35.35, for a total transaction of $60,271.75. Following the completion of the transaction, the senior vice president now directly owns 1,671 shares in the company, valued at $59,069.85. The disclosure for this sale can be found here. Insiders sold a total of 93,567 shares of company stock valued at $3,261,447 over the last 90 days. Insiders own 0.51% of the company’s stock.
About International Paper
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.
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