State Board of Administration of Florida Retirement System increased its stake in shares of International Paper Co (NYSE:IP) by 2.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 560,461 shares of the basic materials company’s stock after buying an additional 12,750 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.14% of International Paper worth $24,279,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Advisory Alpha LLC acquired a new stake in shares of International Paper in the first quarter valued at $25,000. Bremer Bank National Association acquired a new stake in shares of International Paper in the first quarter valued at $28,000. First Interstate Bank acquired a new stake in shares of International Paper in the first quarter valued at $37,000. Hanson McClain Inc. grew its stake in shares of International Paper by 82.2% in the first quarter. Hanson McClain Inc. now owns 869 shares of the basic materials company’s stock valued at $40,000 after buying an additional 392 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in shares of International Paper in the first quarter valued at $47,000. Hedge funds and other institutional investors own 82.02% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. KeyCorp reaffirmed a “sell” rating and issued a $38.00 price objective on shares of International Paper in a research note on Thursday, July 25th. Stephens cut International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a research note on Monday, June 24th. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $53.00 to $45.00 in a research note on Thursday, July 11th. Finally, UBS Group set a $50.00 price objective on International Paper and gave the company a “buy” rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $47.82.
In other news, SVP Sharon R. Ryan sold 22,507 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the completion of the transaction, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.
IP traded down $0.48 on Friday, hitting $38.38. 17,493 shares of the company were exchanged, compared to its average volume of 3,603,857. International Paper Co has a twelve month low of $37.55 and a twelve month high of $54.95. The company has a market cap of $15.19 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 1.71 and a beta of 1.49. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $42.01 and a two-hundred day moving average price of $44.45.
International Paper (NYSE:IP) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.14. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The firm had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the firm posted $1.19 EPS. International Paper’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts expect that International Paper Co will post 4.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 14th. This represents a $2.00 annualized dividend and a yield of 5.21%. International Paper’s payout ratio is 37.59%.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
Further Reading: Quick Ratio
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