Sigma Planning Corp increased its holdings in shares of International Paper Co (NYSE:IP) by 7.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,580 shares of the basic materials company’s stock after acquiring an additional 4,297 shares during the period. Sigma Planning Corp’s holdings in International Paper were worth $2,624,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of IP. Advisory Alpha LLC acquired a new stake in shares of International Paper during the 1st quarter valued at about $25,000. Bremer Bank National Association acquired a new stake in shares of International Paper during the 1st quarter valued at about $28,000. First Interstate Bank acquired a new stake in shares of International Paper during the 1st quarter valued at about $37,000. Hanson McClain Inc. grew its position in shares of International Paper by 82.2% during the 1st quarter. Hanson McClain Inc. now owns 869 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 392 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in shares of International Paper during the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 81.75% of the company’s stock.
IP stock traded up $0.34 during trading on Friday, hitting $38.97. The stock had a trading volume of 79,269 shares, compared to its average volume of 3,547,819. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.46 and a quick ratio of 1.02. International Paper Co has a twelve month low of $37.55 and a twelve month high of $54.95. The stock has a market capitalization of $15.73 billion, a P/E ratio of 7.34, a PEG ratio of 1.70 and a beta of 1.49. The company’s 50-day moving average price is $42.63 and its two-hundred day moving average price is $44.68.
International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.14. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The company had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the firm posted $1.19 EPS. International Paper’s revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that International Paper Co will post 4.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s payout ratio is 37.59%.
In other International Paper news, SVP Sharon R. Ryan sold 22,507 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $44.97, for a total value of $1,012,139.79. Following the transaction, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.
A number of equities research analysts have recently commented on the company. Stephens cut International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a research report on Monday, June 24th. KeyCorp reiterated a “sell” rating and issued a $38.00 price objective on shares of International Paper in a report on Thursday, July 25th. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $53.00 to $45.00 in a report on Thursday, July 11th. Finally, UBS Group set a $50.00 price objective on International Paper and gave the stock a “buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.82.
International Paper Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
Recommended Story: What strategies should day traders use to execute a trade?
Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.