Shell Asset Management Co. increased its stake in International Paper Co. (NYSE:IP) by 54.0% during the second quarter, Holdings Channel reports. The fund owned 31,676 shares of the company’s stock after buying an additional 11,103 shares during the period. Shell Asset Management Co.’s holdings in International Paper were worth $1,342,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of IP. United Bank VA increased its stake in International Paper by 12.6% in the second quarter. United Bank VA now owns 56,959 shares of the company’s stock valued at $2,413,000 after buying an additional 6,391 shares during the last quarter. RNC Capital Management LLC boosted its position in International Paper by 2.0% in the second quarter. RNC Capital Management LLC now owns 713,026 shares of the company’s stock valued at $30,218,000 after buying an additional 14,239 shares during the period. United Bank Inc. boosted its position in International Paper by 26.2% in the second quarter. United Bank Inc. now owns 100,414 shares of the company’s stock valued at $4,256,000 after buying an additional 20,825 shares during the period. Oakbrook Investments LLC boosted its position in International Paper by 85.9% in the second quarter. Oakbrook Investments LLC now owns 43,600 shares of the company’s stock valued at $1,848,000 after buying an additional 20,150 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its position in International Paper by 733.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 161,158 shares of the company’s stock valued at $6,829,000 after buying an additional 141,822 shares during the period. Institutional investors own 81.73% of the company’s stock.
Shares of International Paper Co. (NYSE:IP) traded up 1.39% during trading on Friday, reaching $47.98. The company had a trading volume of 4,253,061 shares. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of 25.99 and a beta of 1.59. The company’s 50 day moving average is $48.00 and its 200-day moving average is $43.98. International Paper Co. has a 1-year low of $32.50 and a 1-year high of $49.90.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities research analysts anticipate that International Paper Co. will post $3.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, August 11th. International Paper’s dividend payout ratio is currently 94.12%.
Several equities analysts recently issued reports on IP shares. Vetr raised International Paper from a “buy” rating to a “strong-buy” rating and set a $46.81 price objective on the stock in a research report on Tuesday, June 14th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of International Paper in a research report on Monday, June 20th. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, July 5th. Jefferies Group upped their price objective on International Paper from $47.00 to $49.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $42.00 price objective on shares of International Paper in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. International Paper has a consensus rating of “Hold” and an average price target of $47.24.
In other International Paper news, CFO Carol L. Roberts sold 12,256 shares of International Paper stock in a transaction on Monday, August 8th. The shares were sold at an average price of $46.20, for a total value of $566,227.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas G. Kadien sold 10,000 shares of International Paper stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.
International Paper Company Profile
International Paper Company (International Paper) 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.
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