Community Bank of Raymore held its position in International Paper Co. (NYSE:IP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,530 shares of the company’s stock at the end of the second quarter. Community Bank of Raymore’s holdings in International Paper were worth $870,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Springbok Capital Management LLC increased its position in International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock worth $171,000 after buying an additional 1,405 shares during the period. Bender Robert & Associates acquired a new position in International Paper during the second quarter worth $202,000. Trust Co acquired a new position in International Paper during the first quarter worth $205,000. Palladium Partners LLC acquired a new position in International Paper during the second quarter worth $205,000. Finally, FirstMerit Bank N A Trustee acquired a new position in International Paper during the second quarter worth $213,000. 81.73% of the stock is owned by institutional investors and hedge funds.
International Paper Co. (NYSE:IP) traded down 0.33% during trading on Monday, reaching $47.82. 1,849,528 shares of the company’s stock traded hands. The company’s 50 day moving average is $48.00 and its 200-day moving average is $43.98. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 25.90 and a beta of 1.55. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90.
International Paper (NYSE:IP) last posted its 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 firm earned $5.30 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business’s revenue was down 6.9% compared to the same quarter last year. On average, analysts anticipate that International Paper Co. will post $3.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.76 annualized dividend and a yield of 3.67%. International Paper’s payout ratio is currently 94.12%.
A number of research analysts recently weighed in on IP shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of International Paper in a research report on Monday, June 20th. Vetr downgraded shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 target price for the company. in a research report on Monday, June 20th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, July 5th. Credit Suisse Group AG reissued a “hold” rating and issued a $47.00 price objective on shares of International Paper in a research report on Monday, August 1st. Finally, Deutsche Bank AG lifted their price objective on shares of International Paper from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.71.
In related news, insider Thomas G. Kadien sold 10,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $47.86, for a total transaction of $478,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Carol L. Roberts sold 12,256 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
About International Paper
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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