Northern Trust Corp Increases Stake in International Paper Co (NYSE:IP)
Northern Trust Corp grew its holdings in shares of International Paper Co (NYSE:IP) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,620,462 shares of the basic materials company’s stock after purchasing an additional 370,194 shares during the quarter. Northern Trust Corp owned approximately 1.18% of International Paper worth $200,157,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of International Paper by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock valued at $220,435,000 after purchasing an additional 384,793 shares in the last quarter. Janus Henderson Group PLC grew its holdings in International Paper by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 149,329 shares of the basic materials company’s stock valued at $6,910,000 after buying an additional 48,618 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of International Paper by 160.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 152,584 shares of the basic materials company’s stock worth $7,058,000 after acquiring an additional 93,896 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of International Paper by 58.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 24,070 shares of the basic materials company’s stock worth $1,114,000 after acquiring an additional 8,840 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in shares of International Paper by 23.7% in the 1st quarter. Stephens Inc. AR now owns 84,958 shares of the basic materials company’s stock worth $3,931,000 after acquiring an additional 16,259 shares during the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.
IP has been the subject of a number of analyst reports. UBS Group set a $50.00 price objective on shares of International Paper and gave the company a “buy” rating in a report on Monday, June 24th. ValuEngine raised shares of International Paper from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 4th. Wells Fargo & Co decreased their target price on shares of International Paper from $47.00 to $43.00 and set a “market perform” rating on the stock in a report on Monday, August 26th. Stephens cut shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target for the company. in a research note on Monday, June 24th. Finally, KeyCorp restated a “sell” rating and set a $38.00 price target on shares of International Paper in a report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.42.
NYSE:IP traded up $0.18 during midday trading on Wednesday, reaching $41.41. The company had a trading volume of 115,565 shares, compared to its average volume of 3,236,362. International Paper Co has a 12-month low of $36.45 and a 12-month high of $54.95. The firm has a market capitalization of $15.78 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 1.79 and a beta of 1.52. 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 stock’s fifty day simple moving average is $40.34 and its 200-day simple moving average is $43.68.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the company earned $1.19 EPS. International Paper’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that International Paper Co will post 4.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $2.00 annualized dividend and a yield of 4.83%. International Paper’s dividend payout ratio (DPR) 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.
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