Cigna Investments Inc. New decreased its position in International Paper Company (NYSE:IP) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,858 shares of the basic materials company’s stock after selling 1,001 shares during the period. Cigna Investments Inc. New’s holdings in International Paper were worth $898,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. FNY Partners Fund LP increased its position in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,250 shares during the last quarter. Asset Advisors Corp increased its position in shares of International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock worth $136,000 after buying an additional 84 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of International Paper during the first quarter worth $172,000. Parallel Advisors LLC increased its position in shares of International Paper by 24.8% in the first quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock worth $182,000 after buying an additional 680 shares during the last quarter. Finally, Hefty Wealth Partners increased its position in shares of International Paper by 1.7% in the second quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock worth $182,000 after buying an additional 55 shares during the last quarter. 83.04% of the stock is owned by institutional investors.
International Paper Company (IP) opened at 52.59 on Friday. The firm has a 50-day moving average price of $56.00 and a 200 day moving average price of $53.67. The company has a market capitalization of $21.72 billion, a P/E ratio of 26.71 and a beta of 1.46. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Analysts expect that International Paper Company will post $3.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 annualized dividend and a yield of 3.52%. International Paper’s dividend payout ratio is 93.91%.
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A number of brokerages recently weighed in on IP. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $60.00 to $64.00 in a research note on Thursday, July 13th. Royal Bank Of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $56.00 in a research note on Wednesday, April 19th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Vertical Research reissued a “buy” rating on shares of International Paper in a research note on Friday, July 28th. Finally, Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $57.89.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.64% of the stock is owned by corporate insiders.
International Paper Company Profile
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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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