International Paper Company (IP) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC lifted its position in International Paper Company (NYSE:IP) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,888,438 shares of the basic materials company’s stock after acquiring an additional 14,298 shares during the period. Parametric Portfolio Associates LLC owned 0.46% of International Paper worth $107,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of International Paper by 4.4% in the second quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock worth $2,198,257,000 after acquiring an additional 1,648,915 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of International Paper by 0.6% in the second quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock worth $1,645,398,000 after acquiring an additional 184,066 shares during the last quarter. Iridian Asset Management LLC CT lifted its position in International Paper by 20.4% during the third quarter. Iridian Asset Management LLC CT now owns 6,432,080 shares of the basic materials company’s stock worth $365,471,000 after buying an additional 1,090,030 shares in the last quarter. Ameriprise Financial Inc. lifted its position in International Paper by 18.0% during the second quarter. Ameriprise Financial Inc. now owns 6,335,943 shares of the basic materials company’s stock worth $359,118,000 after buying an additional 966,103 shares in the last quarter. Finally, Sound Shore Management Inc. CT lifted its position in International Paper by 7.8% during the third quarter. Sound Shore Management Inc. CT now owns 3,624,456 shares of the basic materials company’s stock worth $205,942,000 after buying an additional 263,372 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on IP shares. Stephens started coverage on International Paper in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price objective on the stock. Zacks Investment Research downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of International Paper in a research report on Thursday, October 12th. BMO Capital Markets reiterated a “buy” rating and set a $62.00 price objective on shares of International Paper in a research report on Friday, November 24th. Finally, ValuEngine downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. International Paper currently has an average rating of “Hold” and a consensus price target of $61.73.
International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. sell-side analysts predict that International Paper Company will post 3.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were paid a $0.475 dividend. The ex-dividend date was Tuesday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.38%. International Paper’s payout ratio is presently 87.56%.
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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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