Affiance Financial LLC Cuts Position in International Paper Co (IP)
Affiance Financial LLC decreased its holdings in International Paper Co (NYSE:IP) by 19.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,396 shares of the basic materials company’s stock after selling 1,565 shares during the period. Affiance Financial LLC’s holdings in International Paper were worth $258,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in International Paper by 0.3% in the third quarter. Vanguard Group Inc. now owns 31,253,119 shares of the basic materials company’s stock valued at $1,536,091,000 after acquiring an additional 101,749 shares in the last quarter. Vanguard Group Inc grew its position in International Paper by 0.3% in the third quarter. Vanguard Group Inc now owns 31,253,119 shares of the basic materials company’s stock valued at $1,536,091,000 after acquiring an additional 101,749 shares in the last quarter. LSV Asset Management grew its position in International Paper by 10.3% in the third quarter. LSV Asset Management now owns 4,723,998 shares of the basic materials company’s stock valued at $232,184,000 after acquiring an additional 439,685 shares in the last quarter. Morgan Stanley grew its position in International Paper by 8.7% in the third quarter. Morgan Stanley now owns 3,542,394 shares of the basic materials company’s stock valued at $174,109,000 after acquiring an additional 284,827 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in International Paper by 28.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,477,279 shares of the basic materials company’s stock valued at $121,793,000 after acquiring an additional 555,339 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Several analysts have issued reports on IP shares. Wells Fargo & Co downgraded shares of International Paper from an “outperform” rating to a “market perform” rating in a research report on Wednesday. ValuEngine downgraded shares of International Paper from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 3rd. Seaport Global Securities started coverage on shares of International Paper in a research report on Tuesday, October 23rd. They issued a “neutral” rating for the company. Royal Bank of Canada reissued a “buy” rating and set a $55.00 price target on shares of International Paper in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus target price of $57.00.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.09. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.90 billion. International Paper had a net margin of 13.68% and a return on equity of 29.75%. On average, research analysts predict that International Paper Co will post 5.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Wednesday, February 20th. International Paper’s dividend payout ratio is presently 57.31%.
International Paper declared that its board has approved a share repurchase program on Tuesday, October 9th that allows the company to repurchase $430.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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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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