Hilltop Holdings Inc. Reduces Position in International Paper (NYSE:IP)

Hilltop Holdings Inc. lowered its stake in shares of International Paper (NYSE:IPFree Report) by 7.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,919 shares of the basic materials company’s stock after selling 488 shares during the period. Hilltop Holdings Inc.’s holdings in International Paper were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Greenhaven Associates Inc. lifted its stake in shares of International Paper by 0.3% in the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after purchasing an additional 25,640 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of International Paper by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock worth $319,844,000 after purchasing an additional 35,930 shares during the period. Mizuho Markets Americas LLC purchased a new position in shares of International Paper in the third quarter worth approximately $144,509,000. Finally, Northern Trust Corp grew its position in International Paper by 4.4% during the third quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock valued at $128,246,000 after buying an additional 151,084 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

NYSE:IP opened at $44.58 on Friday. The business’s 50-day moving average is $38.71 and its 200 day moving average is $36.84. International Paper has a 12 month low of $29.00 and a 12 month high of $46.10. The company has a market capitalization of $15.48 billion, a P/E ratio of 90.98 and a beta of 1.01. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IPGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. On average, equities research analysts forecast that International Paper will post 1.92 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be paid a $0.4625 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.15%. International Paper’s payout ratio is currently 377.55%.

Analyst Ratings Changes

Several research analysts have recently weighed in on IP shares. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of International Paper in a research note on Friday, February 2nd. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and boosted their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Wells Fargo & Company raised their price objective on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Finally, Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.71.

View Our Latest Stock Analysis on IP

About International Paper

(Free Report)

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

See Also

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

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