International Paper Company (IP) Position Raised by HL Financial Services LLC
HL Financial Services LLC boosted its stake in International Paper Company (NYSE:IP) by 158.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,209 shares of the company’s stock after purchasing an additional 25,267 shares during the quarter. HL Financial Services LLC’s holdings in International Paper were worth $2,341,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC grew its stake in International Paper by 0.3% during the second quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the company’s stock worth $357,000 after buying an additional 16 shares during the period. Piedmont Investment Advisors LLC grew its stake in International Paper by 0.5% during the second quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the company’s stock worth $245,000 after buying an additional 20 shares during the period. Mechanics Bank Trust Department grew its stake in International Paper by 0.6% during the second quarter. Mechanics Bank Trust Department now owns 4,467 shares of the company’s stock worth $253,000 after buying an additional 26 shares during the period. Moloney Securities Asset Management LLC grew its stake in International Paper by 0.9% during the second quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the company’s stock worth $282,000 after buying an additional 44 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in International Paper by 2.4% during the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the company’s stock worth $107,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 83.30% of the company’s stock.
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International Paper Company (NYSE:IP) traded down C$0.09 on Friday, reaching C$54.85. 1,790,000 shares of the company traded hands, compared to its average volume of 1,695,832. The firm has a market capitalization of $22,649.10, a PE ratio of 17.92, a PEG ratio of 1.65 and a beta of 1.46. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. International Paper Company has a 1 year low of C$45.19 and a 1 year high of C$58.96.
International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, October 25th. The company reported C$1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.04 by C$0.04. The firm had revenue of C$5.91 billion for the quarter, compared to analysts’ expectations of C$5.85 billion. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. sell-side analysts predict that International Paper Company will post 3.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.46%. International Paper’s dividend payout ratio is currently 85.25%.
Several equities research analysts have issued reports on IP shares. KeyCorp reiterated a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.75 to $62.00 in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of International Paper in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of C$61.73.
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.
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