Marietta Wealth Management LLC reduced its stake in shares of International Paper Co (NYSE:IP) by 17.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,619 shares of the basic materials company’s stock after selling 1,359 shares during the quarter. Marietta Wealth Management LLC’s holdings in International Paper were worth $267,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of IP. Conning Inc. grew its position in shares of International Paper by 4,805.7% during the 3rd quarter. Conning Inc. now owns 733,935 shares of the basic materials company’s stock worth $36,073,000 after buying an additional 718,974 shares during the period. Dimensional Fund Advisors LP grew 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 worth $121,793,000 after buying an additional 555,339 shares during the period. Levin Capital Strategies L.P. grew 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 worth $115,584,000 after buying an additional 484,156 shares during the period. Becker Capital Management Inc. grew its position in shares of International Paper by 120.1% during the 4th quarter. Becker Capital Management Inc. now owns 882,965 shares of the basic materials company’s stock worth $35,636,000 after buying an additional 481,810 shares during the period. Finally, LSV Asset Management grew its position in shares of International Paper by 10.3% during the 3rd quarter. LSV Asset Management now owns 4,723,998 shares of the basic materials company’s stock worth $232,184,000 after buying an additional 439,685 shares during the period. Institutional investors own 81.56% of the company’s stock.
Several research firms have commented on IP. Argus cut their target price on International Paper from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, December 4th. Royal Bank of Canada restated a “buy” rating and issued a $55.00 target price on shares of International Paper in a research note on Tuesday, October 23rd. Finally, Citigroup restated a “buy” rating and issued a $53.00 target price on shares of International Paper in a research note on Friday, February 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $54.58.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. International Paper had a return on equity of 30.72% and a net margin of 8.63%. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.86 billion. As a group, equities analysts expect that International Paper Co will post 5.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Wednesday, February 20th. International Paper’s dividend payout ratio is currently 37.59%.
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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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