Sanders Morris Harris LLC bought a new position in International Paper Co (NYSE:IP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,700 shares of the basic materials company’s stock, valued at approximately $214,000.
A number of other hedge funds also recently modified their holdings of IP. New York State Common Retirement Fund raised its position in International Paper by 5.9% in the third quarter. New York State Common Retirement Fund now owns 1,131,906 shares of the basic materials company’s stock worth $64,315,000 after acquiring an additional 63,146 shares during the period. SG Americas Securities LLC raised its position in International Paper by 61.5% in the third quarter. SG Americas Securities LLC now owns 78,067 shares of the basic materials company’s stock worth $4,436,000 after acquiring an additional 29,741 shares during the period. Stephens Inc. AR raised its position in International Paper by 10.8% in the third quarter. Stephens Inc. AR now owns 65,146 shares of the basic materials company’s stock worth $3,702,000 after acquiring an additional 6,362 shares during the period. Rational Advisors LLC bought a new stake in shares of International Paper during the 3rd quarter valued at $108,000. Finally, Edge Advisors LLC raised its position in shares of International Paper by 43.3% during the 3rd quarter. Edge Advisors LLC now owns 144,757 shares of the basic materials company’s stock valued at $8,225,000 after purchasing an additional 43,724 shares during the period. Institutional investors own 82.52% of the company’s stock.
International Paper Co (NYSE IP) opened at $53.22 on Tuesday. International Paper Co has a 52 week low of $49.60 and a 52 week high of $66.94. The company has a current ratio of 1.62, a quick ratio of 1.17 and a debt-to-equity ratio of 1.66. The company has a market cap of $22,534.16, a PE ratio of 10.35, a P/E/G ratio of 1.22 and a beta of 1.47.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $1.90 dividend on an annualized basis and a yield of 3.57%. International Paper’s payout ratio is 36.97%.
IP has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday, February 6th. DA Davidson raised their target price on shares of International Paper to $74.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. ValuEngine raised shares of International Paper from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Bank of America raised their target price on shares of International Paper from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $70.00 target price on shares of International Paper in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. International Paper presently has a consensus rating of “Hold” and a consensus target price of $65.17.
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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.
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