Wright Investors Service Inc. raised its stake in International Paper Co (NYSE:IP) by 37.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,442 shares of the basic materials company’s stock after buying an additional 5,011 shares during the period. Wright Investors Service Inc.’s holdings in International Paper were worth $799,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of IP. Ronna Sue Cohen boosted its position in International Paper by 4,416.5% in the first quarter. Ronna Sue Cohen now owns 3,646,825 shares of the basic materials company’s stock valued at $3,647,000 after buying an additional 3,566,080 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of International Paper by 4.9% during the first quarter. BlackRock Inc. now owns 38,343,898 shares of the basic materials company’s stock worth $1,774,172,000 after purchasing an additional 1,784,970 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of International Paper by 67.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock worth $167,264,000 after purchasing an additional 1,667,274 shares during the period. Geode Capital Management LLC lifted its holdings in shares of International Paper by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock worth $220,435,000 after purchasing an additional 384,793 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of International Paper by 22.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,955,866 shares of the basic materials company’s stock worth $90,498,000 after purchasing an additional 362,514 shares during the period. Hedge funds and other institutional investors own 81.75% of the company’s stock.
In related news, SVP Sharon R. Ryan sold 22,507 shares of International Paper stock in a transaction on Friday, July 26th. The shares were sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the completion of the transaction, the senior vice president now owns 61,554 shares of the company’s stock, valued at $2,768,083.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas J. Plath sold 1,000 shares of International Paper stock in a transaction on Friday, May 17th. The shares were sold at an average price of $45.17, for a total transaction of $45,170.00. Following the completion of the sale, the senior vice president now directly owns 30,671 shares of the company’s stock, valued at $1,385,409.07. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
NYSE IP traded down $0.28 during mid-day trading on Thursday, reaching $38.37. 124,114 shares of the stock were exchanged, compared to its average volume of 3,520,710. International Paper Co has a one year low of $37.55 and a one year high of $54.95. The company has a 50 day moving average of $42.72. The stock has a market cap of $15.14 billion, a PE ratio of 7.21, a P/E/G ratio of 1.64 and a beta of 1.49. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.02 and a current ratio of 1.46.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The business had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the firm earned $1.19 earnings per share. International Paper’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts expect that International Paper Co will post 4.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s dividend payout ratio is presently 37.59%.
A number of equities analysts have recently commented on the stock. KeyCorp reiterated a “sell” rating and set a $38.00 price target on shares of International Paper in a report on Thursday, July 25th. UBS Group set a $50.00 price target on shares of International Paper and gave the stock a “buy” rating in a report on Monday, June 24th. Citigroup lowered shares of International Paper from a “buy” rating to a “neutral” rating and cut their price target for the stock from $53.00 to $45.00 in a report on Thursday, July 11th. Finally, Stephens lowered shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target on the stock. in a report on Monday, June 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.82.
About International Paper
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.
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