Candriam Luxembourg S.C.A. reduced its stake in shares of International Paper Co. (NYSE:IP) by 79.6% during the second quarter, Holdings Channel reports. The institutional investor owned 16,934 shares of the company’s stock after selling 65,884 shares during the period. Candriam Luxembourg S.C.A.’s holdings in International Paper were worth $718,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of IP. Legal & General Group Plc boosted its stake in International Paper by 2.9% in the first quarter. Legal & General Group Plc now owns 1,974,481 shares of the company’s stock valued at $81,027,000 after buying an additional 55,797 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of International Paper by 68.6% in the first quarter. Loomis Sayles & Co. L P now owns 22,757 shares of the company’s stock worth $934,000 after buying an additional 9,263 shares during the period. Geode Capital Management LLC boosted its stake in shares of International Paper by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,272,491 shares of the company’s stock worth $134,028,000 after buying an additional 42,981 shares during the period. Williams Jones & Associates LLC bought a new stake in shares of International Paper during the first quarter worth $607,000. Finally, Retirement Systems of Alabama boosted its stake in shares of International Paper by 15.5% in the second quarter. Retirement Systems of Alabama now owns 771,597 shares of the company’s stock worth $32,700,000 after buying an additional 103,574 shares during the period. 81.73% of the stock is owned by institutional investors.
International Paper Co. (NYSE:IP) traded down 1.01% during mid-day trading on Friday, reaching $46.82. 3,792,942 shares of the company were exchanged. International Paper Co. has a 12 month low of $32.50 and a 12 month high of $49.90. The stock has a market capitalization of $19.25 billion, a P/E ratio of 25.36 and a beta of 1.55. The company’s 50 day moving average price is $48.04 and its 200-day moving average price is $44.21.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities analysts expect that International Paper Co. will post $3.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.76%. International Paper’s payout ratio is currently 94.12%.
A number of equities research analysts recently weighed in on the stock. Jefferies Group boosted their price target on shares of International Paper from $47.00 to $49.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $42.00 price target on shares of International Paper in a research report on Friday, July 29th. Deutsche Bank AG reissued a “hold” rating and issued a $42.00 price target on shares of International Paper in a research report on Wednesday, August 31st. BMO Capital Markets reissued a “market perform” rating and issued a $47.00 price target on shares of International Paper in a research report on Saturday, August 13th. Finally, Vetr cut shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 price target for the company. in a research report on Monday, June 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. International Paper currently has an average rating of “Hold” and a consensus target price of $47.71.
In related news, insider William P. Hoel sold 20,000 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas G. Kadien sold 10,000 shares of the stock in a transaction dated 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 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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