Mackay Shields LLC lifted its position in International Paper Co (NYSE:IP) by 344.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 290,038 shares of the basic materials company’s stock after buying an additional 224,826 shares during the quarter. Mackay Shields LLC owned approximately 0.07% of International Paper worth $11,706,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in International Paper by 1.9% during the 4th quarter. BlackRock Inc. now owns 36,558,928 shares of the basic materials company’s stock worth $1,475,518,000 after purchasing an additional 688,610 shares during the period. Vanguard Group Inc. increased its holdings in International Paper by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 31,253,119 shares of the basic materials company’s stock worth $1,536,091,000 after purchasing an additional 101,749 shares during the period. Vanguard Group Inc increased its holdings in International Paper by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 31,253,119 shares of the basic materials company’s stock worth $1,536,091,000 after purchasing an additional 101,749 shares during the period. Geode Capital Management LLC increased its holdings in International Paper by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock worth $220,435,000 after purchasing an additional 384,793 shares during the period. Finally, LSV Asset Management increased its holdings in International Paper by 3.4% during the 4th quarter. LSV Asset Management now owns 4,883,858 shares of the basic materials company’s stock worth $197,112,000 after purchasing an additional 159,860 shares during the period. Hedge funds and other institutional investors own 79.60% of the company’s stock.
Several equities research analysts have weighed in on IP shares. Zacks Investment Research downgraded International Paper from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Stephens upgraded International Paper from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $50.00 to $60.00 in a report on Wednesday, January 23rd. Citigroup restated a “buy” rating and set a $53.00 price target on shares of International Paper in a report on Friday, February 1st. Royal Bank of Canada restated a “buy” rating and set a $49.00 price target on shares of International Paper in a report on Tuesday, January 8th. Finally, Deutsche Bank cut their price target on International Paper from $55.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $54.58.
NYSE:IP opened at $45.51 on Friday. The stock has a market cap of $18.21 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.57. International Paper Co has a 1 year low of $37.55 and a 1 year high of $59.57. The company has a quick ratio of 1.01, a current ratio of 1.49 and a debt-to-equity ratio of 1.36.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.04. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.86 billion. International Paper had a return on equity of 30.83% and a net margin of 8.63%. As a group, research analysts forecast that International Paper Co will post 5.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 21st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $2.00 annualized dividend and a dividend yield of 4.39%. International Paper’s dividend payout ratio is currently 37.59%.
About International Paper
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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