ICON Advisers raised its stake in International Paper Co (NYSE:IP) by 99.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,200 shares of the company’s stock after buying an additional 57,000 shares during the period. ICON Advisers’ holdings in International Paper were worth $4,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of IP. Southport Capital Management increased its position in shares of International Paper by 2.7% in the fourth quarter. Southport Capital Management now owns 11,482 shares of the company’s stock worth $433,000 after buying an additional 299 shares during the period. Hollencrest Securities purchased a new position in shares of International Paper during the fourth quarter worth approximately $539,000. Finally, KBC Group increased its position in shares of International Paper by 62.3% in the third quarter. KBC Group now owns 420,122 shares of the company’s stock worth $15,877,000 after buying an additional 161,251 shares during the period.

International Paper Co (NYSE:IP) traded up 2.79% on Friday, reaching $36.45. 3,713,832 shares of the company’s stock traded hands. The firm has a market capitalization of $15.11 billion and a P/E ratio of 17.31. The stock has a 50-day moving average of $37.54 and a 200 day moving average of $41.94. International Paper Co has a 52 week low of $34.03 and a 52 week high of $57.90.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.86 billion. International Paper’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. On average, equities analysts expect that International Paper Co will post $3.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 15th. Shareholders of record on Tuesday, February 16th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, February 11th. This is a boost from International Paper’s previous quarterly dividend of $0.30. This represents a $1.76 annualized dividend and a dividend yield of 4.83%.

A number of equities analysts have commented on IP shares. Wells Fargo raised shares of International Paper to an “overweight” rating in a research note on Wednesday, October 7th. Citigroup Inc. reduced their target price on shares of International Paper from $58.00 to $52.00 in a research note on Thursday, October 15th. RBC Capital reduced their target price on shares of International Paper from $50.00 to $45.00 in a research note on Wednesday, October 21st. Bank of America reissued a “neutral” rating and issued a $48.00 price target (up from $47.00) on shares of International Paper in a research note on Saturday, October 31st. Finally, Barclays reduced their price target on shares of International Paper from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, November 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price 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

Receive News & Ratings for International Paper Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Co and related companies with MarketBeat.com's FREE daily email newsletter.