Caisse DE Depot ET Placement DU Quebec Purchases 25,855 Shares of International Paper Co (IP)
Caisse DE Depot ET Placement DU Quebec raised its position in International Paper Co (NYSE:IP) by 82.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,138 shares of the basic materials company’s stock after acquiring an additional 25,855 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in International Paper were worth $2,976,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of IP. Private Capital Group LLC lifted its stake in International Paper by 227.0% in the first quarter. Private Capital Group LLC now owns 2,093 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 1,453 shares during the last quarter. Silvant Capital Management LLC purchased a new position in International Paper in the first quarter worth approximately $119,000. Signaturefd LLC purchased a new position in International Paper in the first quarter worth approximately $120,000. Squar Milner Financial Services LLC purchased a new stake in shares of International Paper during the 2nd quarter worth approximately $125,000. Finally, Vigilant Capital Management LLC lifted its position in shares of International Paper by 375.1% during the 2nd quarter. Vigilant Capital Management LLC now owns 3,088 shares of the basic materials company’s stock worth $161,000 after buying an additional 2,438 shares during the last quarter. Institutional investors own 82.20% of the company’s stock.
Shares of International Paper stock opened at $52.37 on Thursday. The firm has a market capitalization of $21.10 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. International Paper Co has a 12 month low of $50.00 and a 12 month high of $66.94. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.13 and a current ratio of 1.57.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Wednesday, August 15th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.63%. International Paper’s payout ratio is 54.44%.
Several analysts have recently weighed in on the stock. Stephens set a $57.00 price objective on shares of International Paper and gave the stock a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, August 1st. Barclays reduced their price objective on shares of International Paper from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Monday, July 30th. BMO Capital Markets reduced their price objective on shares of International Paper from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, July 27th. Finally, ValuEngine upgraded shares of International Paper from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.38.
In other news, SVP Sharon R. Ryan sold 15,000 shares of International Paper stock in a transaction on Monday, August 6th. The shares were sold at an average price of $52.87, for a total value of $793,050.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy S. Nicholls sold 17,000 shares of International Paper stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total transaction of $893,010.00. Following the completion of the transaction, the insider now directly owns 108,538 shares in the company, valued at $5,701,501.14. The disclosure for this sale can be found here. Insiders sold a total of 42,930 shares of company stock worth $2,296,610 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.
About International Paper
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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