International Paper Co. (NYSE:IP) declared a quarterly dividend on Tuesday, October 11th. Shareholders of record on Tuesday, November 15th will be given a dividend of 0.4625 per share on Thursday, December 15th. This represents a $1.85 annualized dividend and a yield of 4.05%. This is a positive change from International Paper’s previous quarterly dividend of $0.44.
International Paper (NYSE:IP) opened at 45.72 on Wednesday. The firm’s 50-day moving average is $48.00 and its 200 day moving average is $44.31. International Paper has a 52-week low of $32.50 and a 52-week high of $49.90. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 24.77 and a beta of 1.55.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. The firm earned $5.30 billion during the quarter, compared to analyst estimates of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. On average, equities research analysts predict that International Paper will post $3.49 EPS for the current fiscal year.
In related news, insider William P. Hoel sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Carol L. Roberts sold 12,256 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $46.20, for a total transaction of $566,227.20. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in IP. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of International Paper by 3.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,810 shares of the company’s stock worth $1,899,000 after buying an additional 1,480 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of International Paper by 16.6% in the second quarter. Public Sector Pension Investment Board now owns 77,872 shares of the company’s stock worth $3,300,000 after buying an additional 11,100 shares in the last quarter. National Pension Service boosted its stake in shares of International Paper by 8.7% in the second quarter. National Pension Service now owns 285,608 shares of the company’s stock worth $12,104,000 after buying an additional 22,891 shares in the last quarter. AXA boosted its stake in shares of International Paper by 0.8% in the second quarter. AXA now owns 58,943 shares of the company’s stock worth $2,498,000 after buying an additional 480 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of International Paper during the second quarter worth $352,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
IP has been the subject of several recent research reports. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 target price for the company in a report on Monday, October 3rd. Citigroup Inc. lifted their target price on shares of International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, August 31st. Deutsche Bank AG set a $50.00 target price on shares of International Paper and gave the company a “hold” rating in a report on Friday, September 23rd. Credit Agricole SA lifted their target price on shares of International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Tuesday, September 6th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of International Paper in a report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. International Paper currently has a consensus rating of “Hold” and an average price target of $47.71.
International Paper Company Profile
International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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