Salem Capital Management Inc. lowered its holdings in International Paper Company (NYSE:IP) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 141,495 shares of the basic materials company’s stock after selling 4,360 shares during the quarter. International Paper makes up 4.2% of Salem Capital Management Inc.’s investment portfolio, making the stock its 7th largest position. Salem Capital Management Inc.’s holdings in International Paper were worth $8,198,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Iridian Asset Management LLC CT increased its position in shares of International Paper by 20.4% in the third quarter. Iridian Asset Management LLC CT now owns 6,432,080 shares of the basic materials company’s stock valued at $365,471,000 after buying an additional 1,090,030 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of International Paper by 103.9% in the second quarter. Parametric Portfolio Associates LLC now owns 1,916,057 shares of the basic materials company’s stock valued at $108,468,000 after buying an additional 976,180 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of International Paper by 1,517.8% in the second quarter. Janus Henderson Group PLC now owns 853,585 shares of the basic materials company’s stock valued at $48,322,000 after buying an additional 800,823 shares in the last quarter. Balyasny Asset Management LLC increased its position in shares of International Paper by 119.8% in the second quarter. Balyasny Asset Management LLC now owns 1,126,602 shares of the basic materials company’s stock valued at $63,777,000 after buying an additional 613,985 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of International Paper by 306.1% in the second quarter. Renaissance Technologies LLC now owns 586,800 shares of the basic materials company’s stock valued at $33,219,000 after buying an additional 442,300 shares in the last quarter. 81.88% of the stock is owned by institutional investors.

IP has been the subject of a number of research analyst reports. KeyCorp restated a “hold” rating on shares of International Paper in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded International Paper from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Stephens set a $66.00 price target on International Paper and gave the company a “hold” rating in a research report on Wednesday, January 10th. BMO Capital Markets restated a “buy” rating and issued a $62.00 price target on shares of International Paper in a research report on Friday, November 24th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $65.00 price target on shares of International Paper in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $63.25.

International Paper Company (NYSE:IP) traded up $0.03 during trading on Tuesday, reaching $62.26. The company had a trading volume of 2,226,500 shares, compared to its average volume of 2,217,200. The stock has a market cap of $25,460.00, a PE ratio of 28.69, a PEG ratio of 1.46 and a beta of 1.47. International Paper Company has a 1 year low of $49.60 and a 1 year high of $62.44. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 2.31.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. equities research analysts predict that International Paper Company will post 3.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, February 20th. International Paper’s dividend payout ratio is presently 87.56%.

ILLEGAL ACTIVITY WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://www.dailypolitical.com/2018/01/16/salem-capital-management-inc-has-8-20-million-holdings-in-international-paper-company-ip.html.

About International Paper

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.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP).

Institutional Ownership by Quarter for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.