Ritholtz Wealth Management boosted its position in International Paper (NYSE:IP) by 20.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,090 shares of the basic materials company’s stock after acquiring an additional 1,736 shares during the quarter. Ritholtz Wealth Management’s holdings in International Paper were worth $546,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Grandview Asset Management LLC acquired a new stake in International Paper in the first quarter valued at approximately $51,000. Piscataqua Savings Bank acquired a new stake in International Paper in the first quarter valued at approximately $27,000. Mascoma Wealth Management LLC acquired a new stake in International Paper in the first quarter valued at approximately $32,000. Vantage Consulting Group Inc acquired a new stake in International Paper in the fourth quarter valued at approximately $30,000. Finally, Wealthcare Capital Management LLC acquired a new stake in International Paper in the first quarter valued at approximately $34,000. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP John V. Sims sold 8,909 shares of International Paper stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $62.87, for a total value of $560,108.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.
International Paper (NYSE:IP) last announced its earnings results on Thursday, April 29th. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.17. International Paper had a net margin of 4.72% and a return on equity of 15.84%. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same period in the previous year, the company posted $0.57 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts expect that International Paper will post 4.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Thursday, May 27th will be given a $0.5125 dividend. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $2.05 dividend on an annualized basis and a yield of 3.22%. International Paper’s dividend payout ratio (DPR) is 73.21%.
Several analysts recently weighed in on the stock. KeyCorp raised their target price on shares of International Paper from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, April 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of International Paper from $49.00 to $58.00 in a report on Monday, April 19th. Jefferies Financial Group raised their price objective on shares of International Paper from $78.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 4th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday. Finally, Zacks Investment Research raised shares of International Paper from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, May 11th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.36.
International Paper Profile
International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. 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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