IFP Advisors Inc boosted its position in International Paper Company (NYSE:IP) by 16.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,455 shares of the basic materials company’s stock after buying an additional 2,314 shares during the period. IFP Advisors Inc’s holdings in International Paper were worth $932,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of IP. State of Alaska Department of Revenue boosted its position in shares of International Paper by 22.2% in the first quarter. State of Alaska Department of Revenue now owns 40,570 shares of the basic materials company’s stock worth $2,059,000 after buying an additional 7,380 shares during the last quarter. Commonwealth Financial Services LLC boosted its position in shares of International Paper by 2.4% in the first quarter. Commonwealth Financial Services LLC now owns 7,966 shares of the basic materials company’s stock worth $403,000 after buying an additional 187 shares during the last quarter. Bollard Group LLC boosted its position in shares of International Paper by 0.9% in the first quarter. Bollard Group LLC now owns 9,861 shares of the basic materials company’s stock worth $501,000 after buying an additional 88 shares during the last quarter. DnB Asset Management AS boosted its position in shares of International Paper by 19.0% in the first quarter. DnB Asset Management AS now owns 43,197 shares of the basic materials company’s stock worth $2,194,000 after buying an additional 6,900 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in shares of International Paper by 21.4% in the first quarter. Capital Investment Advisors LLC now owns 55,301 shares of the basic materials company’s stock valued at $2,808,000 after buying an additional 9,755 shares during the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.
Shares of International Paper Company (IP) opened at 53.41 on Thursday. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95. The company has a market cap of $22.49 billion, a price-to-earnings ratio of 27.13 and a beta of 1.46. The company’s 50 day moving average price is $56.23 and its 200 day moving average price is $53.70.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the business earned $0.92 EPS. International Paper’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that International Paper Company will post $3.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a yield of 3.46%. International Paper’s dividend payout ratio is presently 93.91%.
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Several brokerages have recently weighed in on IP. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $64.00 in a research note on Thursday, July 13th. Royal Bank Of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $50.00 to $56.00 in a research note on Wednesday, April 19th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Vertical Research reissued a “buy” rating on shares of International Paper in a research note on Friday, July 28th. Finally, Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. International Paper presently has an average rating of “Hold” and an average price target of $57.89.
In related news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.64% of the stock is owned by insiders.
About International Paper
International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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