International Paper Company (IP) Shares Bought by First National Trust Co.
First National Trust Co. raised its position in shares of International Paper Company (NYSE:IP) by 25.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,597 shares of the basic materials company’s stock after acquiring an additional 8,056 shares during the period. First National Trust Co.’s holdings in International Paper were worth $2,250,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Exencial Wealth Advisors LLC boosted its holdings in shares of International Paper by 0.3% during the second quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock worth $357,000 after acquiring an additional 16 shares during the period. Piedmont Investment Advisors LLC boosted its stake in shares of International Paper by 0.5% in the second quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock valued at $245,000 after buying an additional 20 shares during the period. Mechanics Bank Trust Department boosted its stake in shares of International Paper by 0.6% in the second quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock valued at $253,000 after buying an additional 26 shares during the period. Moloney Securities Asset Management LLC boosted its stake in shares of International Paper by 0.9% in the second quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock valued at $282,000 after buying an additional 44 shares during the period. Finally, Quadrant Capital Group LLC raised its position in International Paper by 2.4% during the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 82.63% of the company’s stock.
Several brokerages have commented on IP. Barclays PLC boosted their price objective on shares of International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of International Paper in a research report on Monday, October 30th. Credit Suisse Group boosted their price objective on shares of International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Stephens began coverage on shares of International Paper in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price objective for the company. Finally, Royal Bank Of Canada restated a “buy” rating and set a $65.00 price objective on shares of International Paper in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. International Paper has a consensus rating of “Hold” and a consensus price target of $61.73.
Shares of International Paper Company (NYSE:IP) traded down $0.08 on Monday, reaching $54.85. 1,785,400 shares of the company’s stock were exchanged, compared to its average volume of 2,361,042. 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 $22,480.00, a PE ratio of 17.92, a P/E/G ratio of 1.65 and a beta of 1.47. International Paper Company has a twelve month low of $45.19 and a twelve month high of $58.96.
International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.04. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. research analysts forecast that International Paper Company will post 3.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.46%. 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. International Paper’s dividend payout ratio is 85.25%.
International Paper 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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