Meag Munich Ergo Kapitalanlagegesellschaft MBH cut its stake in shares of International Paper Co (NYSE:IP) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 113,788 shares of the basic materials company’s stock after selling 5,448 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in International Paper were worth $4,608,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of IP. Conning Inc. grew its position in International Paper by 4,805.7% in the 3rd quarter. Conning Inc. now owns 733,935 shares of the basic materials company’s stock valued at $36,073,000 after buying an additional 718,974 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of International Paper by 28.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,477,279 shares of the basic materials company’s stock valued at $121,793,000 after acquiring an additional 555,339 shares in the last quarter. Levin Capital Strategies L.P. raised its position in shares of International Paper by 25.9% during the 3rd quarter. Levin Capital Strategies L.P. now owns 2,351,655 shares of the basic materials company’s stock valued at $115,584,000 after acquiring an additional 484,156 shares in the last quarter. LSV Asset Management grew its stake in shares of International Paper by 10.3% in the third quarter. LSV Asset Management now owns 4,723,998 shares of the basic materials company’s stock worth $232,184,000 after purchasing an additional 439,685 shares in the last quarter. Finally, Becker Capital Management Inc. bought a new position in shares of International Paper in the third quarter worth $19,717,000. Institutional investors and hedge funds own 81.56% of the company’s stock.
Several research analysts have weighed in on IP shares. Barclays dropped their target price on International Paper from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Monday, October 29th. Zacks Investment Research upgraded International Paper from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Seaport Global Securities assumed coverage on International Paper in a research report on Tuesday, October 23rd. They set a “neutral” rating on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 price target on shares of International Paper in a report on Tuesday, October 23rd. Finally, Deutsche Bank set a $55.00 price objective on shares of International Paper and gave the stock a “hold” rating in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $54.58.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 31st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.04. International Paper had a return on equity of 30.72% and a net margin of 8.63%. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.86 billion. Equities analysts predict that International Paper Co will post 5.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, February 20th. International Paper’s dividend payout ratio (DPR) is presently 37.59%.
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International Paper Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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