Nomura Asset Management Co. Ltd. raised its stake in shares of International Paper Co (NYSE:IP) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,459 shares of the basic materials company’s stock after purchasing an additional 2,550 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in International Paper were worth $3,445,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of IP. Calton & Associates Inc. acquired a new position in International Paper during the fourth quarter worth approximately $106,000. Rational Advisors LLC acquired a new position in International Paper during the third quarter worth approximately $108,000. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in International Paper during the fourth quarter worth approximately $112,000. Cerebellum GP LLC acquired a new position in International Paper during the fourth quarter worth approximately $121,000. Finally, Amica Retiree Medical Trust acquired a new position in International Paper during the third quarter worth approximately $128,000. 82.52% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on IP shares. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, February 6th. DA Davidson upped their price target on shares of International Paper to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. ValuEngine raised shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America upped their price target on shares of International Paper from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $70.00 price target on shares of International Paper in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $65.17.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.08. International Paper had a net margin of 9.36% and a return on equity of 29.05%. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. research analysts forecast that International Paper Co will post 4.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Tuesday, February 20th. International Paper’s payout ratio is currently 36.97%.
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International Paper Company Profile
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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