Benin Management decreased its position in shares of International Paper Co (NYSE:IP) by 33.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,660 shares of the company’s stock after selling 16,600 shares during the period. International Paper accounts for 0.7% of Benin Management’s portfolio, making the stock its 26th largest position. Benin Management’s holdings in International Paper were worth $1,269,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IP. CIBC World Markets boosted its stake in International Paper by 24.7% in the fourth quarter. CIBC World Markets now owns 27,187 shares of the company’s stock valued at $1,025,000 after buying an additional 5,392 shares during the last quarter. Raymond James Trust boosted its stake in International Paper by 36.0% in the fourth quarter. Raymond James Trust now owns 10,320 shares of the company’s stock valued at $389,000 after buying an additional 2,731 shares during the last quarter. Grassi Investment Management boosted its stake in International Paper by 13.2% in the fourth quarter. Grassi Investment Management now owns 155,745 shares of the company’s stock valued at $5,872,000 after buying an additional 18,139 shares during the last quarter. Crestpoint Capital Management boosted its stake in International Paper by 20.4% in the fourth quarter. Crestpoint Capital Management now owns 11,800 shares of the company’s stock valued at $445,000 after buying an additional 2,000 shares during the last quarter. Finally, Nisa Investment Advisors boosted its stake in International Paper by 0.8% in the fourth quarter. Nisa Investment Advisors now owns 146,088 shares of the company’s stock valued at $5,508,000 after buying an additional 1,150 shares during the last quarter.

Shares of International Paper Co (NYSE:IP) traded down 10.62% during midday trading on Monday, hitting $32.58. 14,636,410 shares of the company traded hands. The company has a 50-day moving average price of $37.54 and a 200-day moving average price of $41.94. International Paper Co has a 52 week low of $32.50 and a 52 week high of $57.90. The stock has a market capitalization of $13.51 billion and a P/E ratio of 15.47.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. During the same quarter in the previous year, the company posted $0.95 earnings per share. The firm had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.86 billion. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts anticipate that International Paper Co will post $3.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 15th. Investors of record on Tuesday, February 16th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $1.76 annualized dividend and a yield of 5.40%. This is a positive change from International Paper’s previous quarterly dividend of $0.30.

Several analysts have commented on IP shares. Barclays lowered their price objective on shares of International Paper from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, November 2nd. Bank of America restated a “neutral” rating and issued a $48.00 price objective (up from $47.00) on shares of International Paper in a report on Saturday, October 31st. Credit Suisse lowered their price objective on shares of International Paper from $56.00 to $50.00 in a report on Tuesday, January 19th. TheStreet lowered shares of International Paper to a “hold” rating in a report on Wednesday, January 20th. Finally, Macquarie started coverage on shares of International Paper in a report on Tuesday, November 10th. They issued a “neutral” rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.70.

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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging. Industrial Packaging segment’s products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. Printing Papers segment products include uncoated papers, which engage in the business of producing papers for use in copiers, desktop and laser printers and pulp, which manufactures printing, writing and specialty papers, tissue products and filtration products. Consumer Packaging’s coated paperboard business produces coated paperboard for packaging and commercial printing end uses. Its foodservice business produces cups, lids, food containers and plates. Its brands include Hammermill, Springhill, Accent, Ballet, Rey, Pol, Everest, Fortress and Carolina.

12 Month Chart for NYSE:IP

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