British Columbia Investment Management Corp Lowers Position in International Paper Co. (IP)
British Columbia Investment Management Corp decreased its stake in shares of International Paper Co. (NYSE:IP) by 27.1% during the third quarter, Holdings Channel reports. The institutional investor owned 181,324 shares of the company’s stock after selling 67,539 shares during the period. British Columbia Investment Management Corp’s holdings in International Paper were worth $8,700,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. South Texas Money Management Ltd. raised its stake in International Paper by 2.2% in the second quarter. South Texas Money Management Ltd. now owns 648,412 shares of the company’s stock valued at $27,480,000 after buying an additional 13,919 shares in the last quarter. Alps Advisors Inc. raised its stake in International Paper by 11.2% in the second quarter. Alps Advisors Inc. now owns 608,955 shares of the company’s stock valued at $25,808,000 after buying an additional 61,508 shares in the last quarter. Foster & Motley Inc. raised its stake in International Paper by 0.5% in the second quarter. Foster & Motley Inc. now owns 106,478 shares of the company’s stock valued at $4,513,000 after buying an additional 547 shares in the last quarter. Gradient Investments LLC raised its stake in International Paper by 1.5% in the third quarter. Gradient Investments LLC now owns 105,544 shares of the company’s stock valued at $5,064,000 after buying an additional 1,592 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in International Paper by 15.5% in the second quarter. Retirement Systems of Alabama now owns 771,597 shares of the company’s stock valued at $32,700,000 after buying an additional 103,574 shares in the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.
International Paper Co. (NYSE:IP) traded up 0.647% on Tuesday, hitting $49.005. The stock had a trading volume of 884,153 shares. The company’s 50 day moving average is $46.51 and its 200-day moving average is $45.44. International Paper Co. has a 1-year low of $32.50 and a 1-year high of $49.90. The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 23.605 and a beta of 1.52.
International Paper (NYSE:IP) last posted its earnings results on Thursday, October 27th. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by $0.02. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.36 billion. International Paper had a return on equity of 35.28% and a net margin of 4.09%. The company’s revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 earnings per share. On average, analysts forecast that International Paper Co. will post $3.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, November 10th. This is an increase from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a dividend yield of 3.80%. International Paper’s payout ratio is presently 88.52%.
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Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered International Paper from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Jefferies Group reiterated a “hold” rating and issued a $51.00 price objective on shares of International Paper in a research note on Thursday, October 20th. Macquarie lowered International Paper from a “market perform” rating to an “underperform” rating in a research note on Tuesday, October 18th. Vetr upgraded International Paper from a “buy” rating to a “strong-buy” rating and set a $51.66 price objective on the stock in a research note on Monday, October 17th. Finally, Deutsche Bank AG set a $50.00 price objective on International Paper and gave the company a “hold” rating in a research note on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.83.
In other news, insider William P. Hoel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas G. Kadien sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
International Paper Company Profile
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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