Bessemer Group Inc. increased its position in International Paper Company (NYSE:IP) by 151.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,672 shares of the company’s stock after buying an additional 26,882 shares during the period. Bessemer Group Inc.’s holdings in International Paper Company were worth $2,370,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Kleinwort Benson Investors Dublin Ltd purchased a new position in shares of International Paper Company during the second quarter worth about $45,472,000. Mission Wealth Management LLC raised its stake in shares of International Paper Company by 1.5% in the second quarter. Mission Wealth Management LLC now owns 27,518 shares of the company’s stock worth $1,166,000 after buying an additional 400 shares during the last quarter. Hanlon Investment Management Inc. purchased a new stake in shares of International Paper Company during the second quarter worth $4,906,000. Foster & Motley Inc. raised its stake in shares of International Paper Company by 0.5% in the second quarter. Foster & Motley Inc. now owns 106,478 shares of the company’s stock worth $4,513,000 after buying an additional 547 shares during the last quarter. Finally, Investors Capital Advisory Services raised its stake in shares of International Paper Company by 8.0% in the second quarter. Investors Capital Advisory Services now owns 9,043 shares of the company’s stock worth $382,000 after buying an additional 666 shares during the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.
International Paper Company (NYSE:IP) opened at 52.88 on Wednesday. International Paper Company has a 52-week low of $33.43 and a 52-week high of $58.86. The firm has a market cap of $21.75 billion, a PE ratio of 24.28 and a beta of 1.58. The firm’s 50-day moving average price is $54.03 and its 200 day moving average price is $49.59.
International Paper Company (NYSE:IP) last released its quarterly earnings results on Thursday, February 2nd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. International Paper Company had a net margin of 4.29% and a return on equity of 32.96%. The business earned $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $0.87 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that International Paper Company will post $3.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 13th. This represents a $1.85 dividend on an annualized basis and a yield of 3.50%. International Paper Company’s dividend payout ratio (DPR) is 84.47%.
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Several research firms recently commented on IP. Zacks Investment Research lowered International Paper Company from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of International Paper Company in a report on Thursday, October 20th. Macquarie lowered International Paper Company from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 18th. DA Davidson cut International Paper Company from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a research note on Friday, February 3rd. Finally, BMO Capital Markets raised International Paper Company from a “market perform” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Wednesday, January 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. International Paper Company currently has an average rating of “Hold” and an average target price of $52.89.
In related news, CFO Carol L. Roberts sold 8,113 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $53.59, for a total transaction of $434,775.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tommy S. Joseph sold 11,700 shares of the firm’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $48.88, for a total value of $571,896.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,717 shares of company stock valued at $1,802,176. 0.64% of the stock is owned by company insiders.
About International Paper Company
International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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