Temple-Inland (TIN) Agrees to $3.48 Billion Offer from International Paper (IP)

Temple-Inland (NYSE:TIN) agreed to be acquired by International Paper Co. (NYSE:IP) for $3.48 billion after rejecting an earlier hostile bid of $30.60.

Terms of the deal are for $32 a share in cash and the assumption of $600 million in debt.

International Paper CEO John Faraci said, "The strategic benefits of this combination are clear and we are pleased to be able to move forward on terms that are financially attractive for both sets of shareholders."

The board of directors for both companies have approved the deal.

International Paper was trading at $26.20, jumping $0.71, or 2.79 percent, as of 12:13 PM EDT. Temple-Inland soared to $30.82, up $6.19, or 25.13 percent.

Ex-dividend for (IBA) (IP) (ISIL) (LLL) (LNN) is May 13

The ex-dividend date for Bachoco Industries (IBA), International Paper Company (IP), Intersil Corporation (ISIL), L-3 Communications Holdings Inc (LLL) and Lindsay Manufacturing Company (LNN) is May 13.

Bachoco Industries (IBA) has a dividend of $0.25 and a yield of 1.55 percent.

International Paper Company (IP) has a dividend of $0.26 and a yield of $3.32 percent.

Intersil Corporation (ISIL) has a dividend of $0.12 and a yield of 3.25 percent.

L-3 Communications Holdings Inc (LLL) has a dividend of $0.45 and a yield of 2.21 percent.

Lindsay Manufacturing Company (LNN) has a dividend of $0.09 and a yield of 0.55 percent.

Price Targets on (MMI) (NLSN) (OCLR) (IP) (JNJ) Updated

Price targets on Motorola Mobility (NYSE: MMI), Nielsen Hldg (NASDAQ: NLSN), Oclaro, Inc. (NASDAQ: OCLR), International Paper Company (NYSE: IP) and Johnson & Johnson (NYSE: JNJ) get updated.

Deutsche Bank (NYSE:DB) cut their price target on shares of Motorola Mobility (MMI) from $30.00 to $25.00. They have a “hold” rating on the stock.

JPMorgan Chase & Co. (NYSE:JPM) analysts raised their price target on Nielsen Hldg (NASDAQ: NLSN) from $32.00 to $34.00. They have an “overweight” rating on the stock.

Citigroup (NYSE:C) cut their price target on Oclaro, Inc. (OCLR) from $15.00 to $14.50.

Deutsche Bank raised their price target on International Paper Company (IP) from $35.00 to $39.00. They have a “buy” rating on the stock.

UBS AG (NYSE:UBS) raised their price target on Johnson & Johnson (JNJ) from $67.00 to $72.00. They have a “buy” rating on the stock.

Price Targets on (HLS) (HS) (INFN) (IP) (NYSE: JNJ) Updated

Price targets on HealthSouth (NYSE: HLS), HealthSpring, Inc (NYSE: HS), Infinera Corp. (NASDAQ: INFN), International Paper Company (NYSE: IP) and Johnson & Johnson (NYSE: JNJ) get updated.

Morgan Keegan raised their price target on HealthSouth (HLS) from $29.25 to $32.00.

Jefferies (NYSE:JEF) raised their price target on HealthSpring, Inc (HS) from $46.00 to $48.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) cut their price target on Infinera Corp. (INFN) from $9.50 to $9.00.

Deutsche Bank (NYSE:DB) raised their price target on International Paper Company (IP) from $35.00 to $39.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Johnson & Johnson (JNJ) from $67.00 to $72.00. They have a “buy” rating on the company.

Dividend Yields for (TMK) (LNC) (L) (IP) (NUE)

Indicated dividend yields for Standard & Poor's 500 Index companies Torchmark Corp (TMK), Lincoln National Corp (LNC), Loews Corp (L), International Paper Co (IP) and Nucor Corp (NUE) .

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Torchmark Corp (TMK) has a dividend yield of 0.96 percent on a declared dividend of $0.16. The payout ratio is 8.2 percent.

Lincoln National Corp (LNC) has a dividend yield of 0.64 percent on a declared dividend of $0.05. The payout ratio is 4.7 percent.

Loews Corp (L) has a dividend yield of 0.56 percent on a declared dividend of $0.06. The payout ratio is 11.2 percent.

International Paper Co (IP) has a dividend yield of 3.40 percent on a declared dividend of $0.26. The payout ratio is 27.8 percent.

Nucor Corp (NUE) has a dividend yield of 3.09 percent on a declared dividend of $0.36. The payout ratio is 71.8 percent.

Price Targets on (HLS) (HS) (INFN) (IP) (JNJ) Updated

Price targets on HealthSouth (NYSE: HLS), HealthSpring, Inc (NYSE: HS), Infinera Corp. (NASDAQ: INFN), International Paper Company (NYSE: IP) and Johnson & Johnson (NYSE: JNJ) were updated today.

Morgan Keegan raised their price target on shares of HealthSouth (HLS) from $29.25 to $32.00.

Jefferies (NYSE:JEF) raised their price target on HealthSpring, Inc (HS) from $46.00 to $48.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) cut their price target on Infinera Corp. (INFN) from $9.50 to $9.00.

Deutsche Bank (NYSE:DB) raised their price target on International Paper Company (IP) from $35.00 to $39.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Johnson & Johnson (JNJ) from $67.00 to $72.00. They have a “buy” rating on the company.

Zion Bancorp (Nasdaq:ZION), Avago (Nasdaq:AVGO), Collective Brands (NYSE:PSS), International Paper (NYSE:IP), Kulicke & Soffa (Nasdaq:KLIC), tw telec

Davidson released their top picks for 2011, among them Zion Bancorp (Nasdaq:ZION), Avago (Nasdaq:AVGO), Collective Brands (NYSE:PSS), International Paper (NYSE:IP), Kulicke & Soffa (Nasdaq:KLIC) and tw telecom (Nasdaq:TWTC).

Those listed above have had the largest amount of trading activity on average, over the last 3 months.

Also top picks of Davidson for 2011 are ACI Worldwide (Nasdaq:ACIW), Buffalo Wild Wings (Nasdaq:BWLD), Diamond Foods (Nasdaq:DMND), ITC Holdings (NYSE:ITC), RTI International Metals (NYSE:RTI), Shaw Group (Nasdaq:SHAW), Triumph Group (NYSE:TGI),
Umpqua (Nasdaq:UMPQ), Valmont (NYSE:VMI) and Volcom (Nasdaq:VLCM).

Price Targets on all 16 companies:


Zion Bancorp - $31 price target - closed Monday at $25.17

Avago Tech - $35 price target - closed at $27.80

Collective Brands - $27 price target - closed at $21.28

International Paper - $36 price target - closed at $28.02

Kulicke & Soffa - $14 price target - closed at $7.20

tw telecom - $24 price target - closed at $17.89

ACI Worldwide - $32 price target - closed at $27.45

Buffalo Wild Wings - $60 price target - closed at $45.38

Diamond Foods - $59 price target - closed at $52.19

ITC Holdings - $75 price target - closed at $62.52

RTI International Metals - $37 price target - closed at $27.30

Shaw Group - $40 price target - closed at $34.67

Triumph Group - $110 price target - closed at $91.89

Umpqua - $15 price target - closed at $12.74

Valmont - $110 price target - closed at $89.03

Volcom - $23 price target - closed at $19.22