Toronto Dominion Bank Has $22.89 Million Stake in International Paper Co (IP)
Toronto Dominion Bank increased its stake in shares of International Paper Co (NYSE:IP) by 149.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 394,986 shares of the basic materials company’s stock after acquiring an additional 236,524 shares during the period. Toronto Dominion Bank’s holdings in International Paper were worth $22,885,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of IP. Calton & Associates Inc. acquired a new position in shares of International Paper during the 4th quarter valued at about $106,000. Rational Advisors LLC acquired a new position in shares of International Paper during the 3rd quarter valued at about $108,000. Cerebellum GP LLC acquired a new position in shares of International Paper during the 4th quarter valued at about $121,000. Amica Retiree Medical Trust acquired a new position in shares of International Paper during the 3rd quarter valued at about $128,000. Finally, Advisory Services Network LLC increased its holdings in shares of International Paper by 188.8% during the 2nd quarter. Advisory Services Network LLC now owns 2,533 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 1,656 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on IP. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $65.00) on shares of International Paper in a report on Monday, January 8th. Bank of America raised their target price on International Paper from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 1st. ValuEngine lowered International Paper from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Barclays raised their target price on International Paper from $50.00 to $52.00 and gave the company an “underweight” rating in a report on Monday, October 30th. Finally, KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $66.00.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.08. International Paper had a return on equity of 29.53% and a net margin of 9.36%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same quarter last year, the firm earned $0.67 EPS. International Paper’s revenue for the quarter was up 14.2% compared to the same quarter last year. research analysts expect that International Paper Co will post 4.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, February 20th. International Paper’s payout ratio is presently 36.97%.
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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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