CCM Investment Advisers LLC Lowers Holdings in International Paper Co (IP)
CCM Investment Advisers LLC lowered its holdings in shares of International Paper Co (NYSE:IP) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,074 shares of the basic materials company’s stock after selling 5,576 shares during the quarter. CCM Investment Advisers LLC’s holdings in International Paper were worth $7,420,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Calton & Associates Inc. bought a new position in International Paper during the fourth quarter valued at $106,000. Rational Advisors LLC bought a new position in International Paper during the third quarter valued at $108,000. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in International Paper during the fourth quarter valued at $112,000. Cerebellum GP LLC bought a new position in International Paper during the fourth quarter valued at $121,000. Finally, Amica Retiree Medical Trust bought a new position in International Paper during the third quarter valued at $128,000. Institutional investors and hedge funds own 82.52% of the company’s stock.
Several research firms have recently issued reports on IP. BMO Capital Markets restated a “buy” rating and issued a $70.00 target price on shares of International Paper in a report on Thursday, January 25th. Wells Fargo restated an “outperform” rating and issued a $70.00 target price (up previously from $65.00) on shares of International Paper in a report on Monday, January 8th. DA Davidson raised their target price on shares of International Paper to $74.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. ValuEngine upgraded shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Bank of America raised their target price on shares of International Paper from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. International Paper has an average rating of “Hold” and an average price target of $65.17.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.08. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $6.01 billion. International Paper had a net margin of 9.36% and a return on equity of 29.05%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. analysts forecast that International Paper Co will post 4.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Tuesday, February 20th. International Paper’s dividend payout ratio is presently 36.97%.
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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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