Intercontinental Wealth Advisors LLC lowered its holdings in shares of International Paper Co (NYSE:IP) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,340 shares of the basic materials company’s stock after selling 342 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in International Paper were worth $216,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in International Paper by 84.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 274,686 shares of the basic materials company’s stock valued at $14,306,000 after buying an additional 125,616 shares during the last quarter. Fulton Bank N.A. acquired a new stake in International Paper in the 3rd quarter valued at approximately $429,000. Atria Investments LLC raised its position in International Paper by 22.4% in the 3rd quarter. Atria Investments LLC now owns 57,781 shares of the basic materials company’s stock valued at $2,840,000 after buying an additional 10,570 shares during the last quarter. Neville Rodie & Shaw Inc. raised its position in International Paper by 6.0% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 69,831 shares of the basic materials company’s stock valued at $3,432,000 after buying an additional 3,931 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in International Paper by 1.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 110,536 shares of the basic materials company’s stock valued at $5,430,000 after buying an additional 1,263 shares during the last quarter. 80.78% of the stock is currently owned by institutional investors.
NYSE:IP opened at $46.34 on Friday. The company has a market cap of $18.77 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 0.89 and a beta of 1.58. International Paper Co has a twelve month low of $37.55 and a twelve month high of $62.95. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 1.52.
International Paper declared that its Board of Directors has approved a stock buyback program on Tuesday, October 9th that allows the company to buyback $430.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, February 20th. This represents a $2.00 annualized dividend and a dividend yield of 4.32%. International Paper’s dividend payout ratio is currently 37.59%.
IP has been the topic of a number of recent research reports. BMO Capital Markets lowered International Paper from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $66.00 to $51.00 in a research report on Tuesday, October 9th. Goldman Sachs Group lowered International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research report on Wednesday, October 10th. Citigroup lowered their price target on International Paper from $67.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, October 11th. Seaport Global Securities began coverage on International Paper in a research report on Tuesday, October 23rd. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price target on shares of International Paper in a research report on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. International Paper has a consensus rating of “Hold” and a consensus target price of $54.58.
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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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