Oakbrook Investments LLC Sells 2,940 Shares of International Paper Company (IP)
Oakbrook Investments LLC lessened its stake in International Paper Company (NYSE:IP) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,890 shares of the basic materials company’s stock after selling 2,940 shares during the period. Oakbrook Investments LLC’s holdings in International Paper were worth $2,369,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in IP. Laurion Capital Management LP boosted its position in International Paper by 19.5% in the 2nd quarter. Laurion Capital Management LP now owns 19,000 shares of the basic materials company’s stock worth $1,076,000 after purchasing an additional 3,101 shares in the last quarter. New York State Common Retirement Fund boosted its position in International Paper by 6.5% in the 2nd quarter. New York State Common Retirement Fund now owns 1,068,760 shares of the basic materials company’s stock worth $60,503,000 after purchasing an additional 64,774 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in International Paper by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,163,276 shares of the basic materials company’s stock worth $65,853,000 after purchasing an additional 54,728 shares in the last quarter. Van ECK Associates Corp boosted its position in International Paper by 1.5% in the 2nd quarter. Van ECK Associates Corp now owns 10,054 shares of the basic materials company’s stock worth $569,000 after purchasing an additional 153 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in International Paper by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock worth $1,645,398,000 after purchasing an additional 184,066 shares in the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.
International Paper Company (NYSE:IP) opened at $62.62 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48. The firm has a market capitalization of $25,390.96, a P/E ratio of 28.86, a PEG ratio of 1.44 and a beta of 1.46. International Paper Company has a 52 week low of $49.60 and a 52 week high of $62.82.
International Paper (NYSE:IP) last announced its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The business had revenue of $5.91 billion during 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 business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. research analysts anticipate that International Paper Company will post 3.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Tuesday, February 20th. International Paper’s payout ratio is 87.56%.
Several research firms have commented on IP. Zacks Investment Research lowered International Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Wells Fargo & Co restated an “outperform” rating and issued a $70.00 price objective (up previously from $65.00) on shares of International Paper in a research report on Monday, January 8th. ValuEngine lowered International Paper from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Barclays upped their price objective on International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Monday, October 30th. Finally, KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. International Paper currently has a consensus rating of “Hold” and an average price target of $63.25.
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International Paper Company 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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