International Paper Company (IP) Holdings Increased by Comerica Bank
Comerica Bank grew its holdings in shares of International Paper Company (NYSE:IP) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 559,563 shares of the basic materials company’s stock after buying an additional 9,079 shares during the period. Comerica Bank owned 0.14% of International Paper worth $32,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of International Paper in the 2nd quarter valued at about $424,000. IHT Wealth Management LLC lifted its holdings in shares of International Paper by 26.8% in the 2nd quarter. IHT Wealth Management LLC now owns 1,310 shares of the basic materials company’s stock valued at $650,000 after purchasing an additional 277 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of International Paper by 2.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 47 shares during the last quarter. Ffcm LLC lifted its holdings in shares of International Paper by 148.0% in the 2nd quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Asset Advisors Corp lifted its holdings in shares of International Paper by 3.6% in the 2nd quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 84 shares during the last quarter. 82.63% of the stock is owned by institutional investors.
International Paper Company (IP) traded down $0.22 during midday trading on Tuesday, reaching $54.17. The company’s stock had a trading volume of 839,646 shares, compared to its average volume of 2,361,396. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.48 and a quick ratio of 0.97. International Paper Company has a 52 week low of $45.94 and a 52 week high of $58.96. The firm has a market cap of $22,460.00, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.65 and a beta of 1.47.
International Paper (NYSE:IP) last released its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.04. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. research analysts predict that International Paper Company will post 3.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. This is a boost from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a yield of 3.51%. International Paper’s payout ratio is presently 85.25%.
IP has been the subject of several research reports. ValuEngine downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 24th. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Vertical Research reissued a “buy” rating on shares of International Paper in a report on Friday, July 28th. Finally, Barclays PLC reissued a “sell” rating and issued a $50.00 target price on shares of International Paper in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $61.73.
International Paper Profile
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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