FTB Advisors Inc. Acquires 1,524 Shares of International Paper Company (IP)
FTB Advisors Inc. increased its holdings in shares of International Paper Company (NYSE:IP) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,102 shares of the basic materials company’s stock after acquiring an additional 1,524 shares during the period. FTB Advisors Inc.’s holdings in International Paper were worth $2,743,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its position in International Paper by 21.7% in the second quarter. Oppenheimer & Co. Inc. now owns 51,063 shares of the basic materials company’s stock valued at $2,891,000 after buying an additional 9,093 shares in the last quarter. FMR LLC boosted its position in International Paper by 9.9% in the second quarter. FMR LLC now owns 359,574 shares of the basic materials company’s stock valued at $20,356,000 after buying an additional 32,461 shares in the last quarter. Burney Co. boosted its position in International Paper by 4.5% in the second quarter. Burney Co. now owns 101,543 shares of the basic materials company’s stock valued at $5,654,000 after buying an additional 4,374 shares in the last quarter. Homrich & Berg acquired a new position in International Paper in the second quarter valued at about $337,000. Finally, Cipher Capital LP acquired a new position in International Paper in the second quarter valued at about $2,703,000. Hedge funds and other institutional investors own 82.58% of the company’s stock.
Shares of International Paper Company (NYSE IP) opened at $54.92 on Monday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48. The firm has a market cap of $22,678.01, a P/E ratio of 17.95, a P/E/G ratio of 1.65 and a beta of 1.46. International Paper Company has a 12 month low of $48.49 and a 12 month high of $58.96.
International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.04. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a net margin of 4.00% and a return on equity of 27.56%. International Paper’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. analysts predict that International Paper Company will post 3.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, November 14th. International Paper’s payout ratio is 87.56%.
A number of research firms have commented on IP. Stephens began coverage on shares of International Paper in a research report on Tuesday, October 24th. They issued an “equal weight” rating and a $60.00 price target on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of International Paper in a research note on Monday, October 23rd. Credit Suisse Group boosted their target price on shares of International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research note on Monday, October 30th. Finally, Barclays PLC boosted their target price on shares of International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $61.73.
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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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