Sit Investment Associates Inc. Has $20.29 Million Position in International Paper Company (IP)

Sit Investment Associates Inc. boosted its stake in shares of International Paper Company (NYSE:IP) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 350,260 shares of the basic materials company’s stock after purchasing an additional 62,490 shares during the period. Sit Investment Associates Inc.’s holdings in International Paper were worth $20,294,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of International Paper by 9.9% in the second quarter. FMR LLC now owns 359,574 shares of the basic materials company’s stock valued at $20,356,000 after acquiring an additional 32,461 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of International Paper by 16.7% in the third quarter. Oppenheimer & Co. Inc. now owns 59,568 shares of the basic materials company’s stock worth $3,385,000 after purchasing an additional 8,505 shares during the last quarter. BlackRock Inc. increased its holdings in shares of International Paper by 4.4% in the second quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock worth $2,198,257,000 after purchasing an additional 1,648,915 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in shares of International Paper by 22.1% in the third quarter. Fox Run Management L.L.C. now owns 17,100 shares of the basic materials company’s stock worth $972,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of International Paper by 19.3% in the third quarter. Mutual of America Capital Management LLC now owns 136,023 shares of the basic materials company’s stock worth $7,729,000 after purchasing an additional 22,029 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Shares of International Paper Company (NYSE:IP) traded down $0.64 during midday trading on Wednesday, reaching $61.49. The company’s stock had a trading volume of 2,487,800 shares, compared to its average volume of 2,524,650. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. International Paper Company has a 52 week low of $49.60 and a 52 week high of $62.44. The company has a market capitalization of $25,490.00, a PE ratio of 28.34, a P/E/G ratio of 1.45 and a beta of 1.47.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $1.90 annualized dividend and a yield of 3.09%. International Paper’s payout ratio is currently 87.56%.

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of International Paper in a report on Monday, October 23rd. Deutsche Bank reaffirmed a “hold” rating and issued a $56.00 target price (up from $54.00) on shares of International Paper in a report on Monday, October 9th. Barclays lifted their target price on International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Monday, October 30th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $70.00 target price (up from $65.00) on shares of International Paper in a report on Monday. Finally, KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.75.

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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.

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

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