Old Mutual Global Investors UK Ltd. Takes $471,000 Position in International Paper Company (IP)
Old Mutual Global Investors UK Ltd. acquired a new position in shares of International Paper Company (NYSE:IP) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,300 shares of the basic materials company’s stock, valued at approximately $471,000.
A number of other hedge funds have also recently modified their holdings of IP. BlackRock Inc. raised its holdings in International Paper by 4.4% during the second quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock worth $2,198,257,000 after purchasing an additional 1,648,915 shares during the last quarter. Iridian Asset Management LLC CT raised its holdings in International Paper by 42.6% during the second quarter. Iridian Asset Management LLC CT now owns 5,342,050 shares of the basic materials company’s stock worth $302,413,000 after purchasing an additional 1,596,230 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in International Paper during the second quarter worth $82,229,000. First Eagle Investment Management LLC raised its holdings in International Paper by 114.8% during the second quarter. First Eagle Investment Management LLC now owns 2,162,979 shares of the basic materials company’s stock worth $122,446,000 after purchasing an additional 1,156,003 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in International Paper by 103.9% during the second quarter. Parametric Portfolio Associates LLC now owns 1,916,057 shares of the basic materials company’s stock worth $108,468,000 after purchasing an additional 976,180 shares during the last quarter. 83.30% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on IP shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price objective (up from $65.00) on shares of International Paper in a report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of International Paper in a report on Monday, August 21st. BMO Capital Markets reaffirmed a “buy” rating on shares of International Paper in a report on Thursday, August 17th. DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.75 to $62.00 in a report on Monday, August 14th. Finally, Vertical Research reissued a “buy” rating on shares of International Paper in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $61.73.
Shares of International Paper Company (NYSE IP) opened at $54.85 on Friday. The company has a market capitalization of $22,682.15, a price-to-earnings ratio of 17.95, a PEG ratio of 1.65 and a beta of 1.46. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.48 and a quick ratio of 0.97. International Paper Company has a 1 year low of $45.19 and a 1 year high of $58.96.
International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, beating 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 return on equity of 27.56% and a net margin of 4.00%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. analysts expect that International Paper Company will post 3.5 EPS for the current year.
The firm 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 $0.475 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. 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. International Paper’s payout ratio is currently 85.25%.
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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