Laffer Investments Sells 2,190 Shares of International Paper Company (NYSE:IP)

Laffer Investments lowered its position in International Paper Company (NYSE:IP) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,038 shares of the basic materials company’s stock after selling 2,190 shares during the period. Laffer Investments’ holdings in International Paper were worth $1,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew 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 valued at $2,198,257,000 after purchasing an additional 1,648,915 shares during the period. Vanguard Group Inc. grew its holdings in International Paper by 0.6% during the second quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock valued at $1,645,398,000 after purchasing an additional 184,066 shares during the period. Bank of New York Mellon Corp grew its holdings in International Paper by 13.1% during the second quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock valued at $409,080,000 after purchasing an additional 836,888 shares during the period. Iridian Asset Management LLC CT grew its holdings 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 valued at $365,471,000 after purchasing an additional 1,090,030 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings 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 valued at $359,118,000 after purchasing an additional 966,103 shares during the period. 81.85% of the stock is owned by institutional investors.

International Paper Company (NYSE:IP) traded up $0.11 during trading hours on Friday, hitting $57.94. The company had a trading volume of 1,569,480 shares, compared to its average volume of 1,956,399. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $23,879.64, a P/E ratio of 26.70, a P/E/G ratio of 1.73 and a beta of 1.45. International Paper Company has a 12 month low of $49.60 and a 12 month high of $58.96.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $5.91 billion for 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 firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. equities research analysts predict that International Paper Company will post 3.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were given a $0.475 dividend. This is an increase 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 3.28%. The ex-dividend date was Tuesday, November 14th. International Paper’s payout ratio is currently 87.56%.

Several research firms have issued reports on IP. Zacks Investment Research lowered International Paper from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. ValuEngine lowered International Paper from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Barclays boosted their price objective on International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of International Paper in a research report on Monday, October 30th. Finally, Credit Suisse Group boosted their price objective on International Paper from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $61.73.

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About International Paper

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.

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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