State of New Jersey Common Pension Fund D reduced its position in International Paper Company (NYSE:IP) by 34.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the basic materials company’s stock after selling 80,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in International Paper were worth $8,492,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of International Paper by 1,220.4% in the fourth quarter. Macquarie Group Ltd. now owns 136,003 shares of the basic materials company’s stock worth $7,216,000 after buying an additional 125,703 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of International Paper by 12.0% in the first quarter. Raymond James Trust N.A. now owns 12,585 shares of the basic materials company’s stock worth $639,000 after buying an additional 1,344 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of International Paper by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 124,622 shares of the basic materials company’s stock worth $6,328,000 after buying an additional 1,500 shares in the last quarter. National Pension Service increased its position in shares of International Paper by 3.1% in the first quarter. National Pension Service now owns 362,663 shares of the basic materials company’s stock worth $18,547,000 after buying an additional 10,892 shares in the last quarter. Finally, Visionary Asset Management Inc. increased its position in shares of International Paper by 1.1% in the first quarter. Visionary Asset Management Inc. now owns 68,892 shares of the basic materials company’s stock worth $3,498,000 after buying an additional 768 shares in the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.
International Paper Company (NYSE IP) opened at 52.21 on Friday. The firm has a 50 day moving average of $56.11 and a 200-day moving average of $53.69. The stock has a market cap of $21.56 billion, a PE ratio of 26.52 and a beta of 1.46. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, analysts expect that International Paper Company will post $3.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 annualized dividend and a dividend yield of 3.54%. International Paper’s dividend payout ratio is presently 93.91%.
Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada raised shares of International Paper from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $56.00 in a research report on Wednesday, April 19th. Citigroup Inc. reaffirmed a “neutral” rating on shares of International Paper in a research report on Saturday, April 22nd. Deutsche Bank AG upped their price target on shares of International Paper from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price target (up previously from $63.00) on shares of International Paper in a research report on Saturday, April 29th. Finally, Barclays PLC upped their price target on shares of International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a research report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. International Paper currently has an average rating of “Hold” and an average target price of $57.89.
In related news, insider Gregory T. Wanta sold 1,044 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.64% of the stock is currently owned by insiders.
International Paper Company Profile
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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