Rockland Trust Co. bought a new stake in International Paper Company (NYSE:IP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,095 shares of the basic materials company’s stock, valued at approximately $237,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of International Paper by 9.9% during the second quarter. FMR LLC now owns 359,574 shares of the basic materials company’s stock valued at $20,356,000 after purchasing an additional 32,461 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of International Paper by 16.7% during the third quarter. Oppenheimer & Co. Inc. now owns 59,568 shares of the basic materials company’s stock valued at $3,385,000 after purchasing an additional 8,505 shares in the last quarter. BlackRock Inc. boosted its stake in shares of International Paper by 4.4% during the second quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after purchasing an additional 1,648,915 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of International Paper by 22.1% during the third quarter. Fox Run Management L.L.C. now owns 17,100 shares of the basic materials company’s stock valued at $972,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of International Paper by 19.3% during the third quarter. Mutual of America Capital Management LLC now owns 136,023 shares of the basic materials company’s stock valued at $7,729,000 after purchasing an additional 22,029 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

International Paper Company (NYSE IP) opened at $62.26 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $25,696.52, a P/E ratio of 28.69, a P/E/G ratio of 1.45 and a beta of 1.46. International Paper Company has a 12 month low of $49.60 and a 12 month high of $62.44.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.04. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. analysts predict that International Paper Company will post 3.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.05%. The ex-dividend date is Tuesday, February 20th. International Paper’s dividend payout ratio (DPR) is presently 87.56%.

A number of analysts have recently commented on IP shares. Stephens initiated coverage on International Paper in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price target on the stock. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Tuesday, January 2nd. Zacks Investment Research lowered International Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research note on Thursday, October 12th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $62.00 price objective on shares of International Paper in a research note on Friday, November 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $63.25.

COPYRIGHT VIOLATION WARNING: “4,095 Shares in International Paper Company (IP) Purchased by Rockland Trust Co.” was reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/4095-shares-in-international-paper-company-ip-purchased-by-rockland-trust-co/1805536.html.

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.

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 Company (NYSE:IP).

Institutional Ownership by Quarter for International Paper (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.