Hartford Financial Management Inc. increased its position in shares of International Paper Co (NYSE:IP) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,871 shares of the basic materials company’s stock after acquiring an additional 2,080 shares during the quarter. Hartford Financial Management Inc.’s holdings in International Paper were worth $688,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. Dimensional Fund Advisors LP increased its holdings in International Paper by 67.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock valued at $167,264,000 after acquiring an additional 1,667,274 shares during the last quarter. Geode Capital Management LLC increased its holdings in International Paper by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock valued at $220,435,000 after acquiring an additional 384,793 shares during the last quarter. Truvestments Capital LLC bought a new stake in International Paper in the 1st quarter valued at $30,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of International Paper in the 1st quarter worth $515,000. Finally, KMG Fiduciary Partners LLC grew its stake in shares of International Paper by 17.9% in the 1st quarter. KMG Fiduciary Partners LLC now owns 21,946 shares of the basic materials company’s stock worth $1,015,000 after buying an additional 3,332 shares in the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
NYSE:IP opened at $40.05 on Wednesday. International Paper Co has a one year low of $37.55 and a one year high of $54.95. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.02 and a current ratio of 1.46. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 7.53, a P/E/G ratio of 1.69 and a beta of 1.49. The firm has a 50-day simple moving average of $42.80.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.00 annualized dividend and a dividend yield of 4.99%. International Paper’s dividend payout ratio is currently 37.59%.
A number of brokerages have commented on IP. UBS Group set a $50.00 price objective on shares of International Paper and gave the stock a “buy” rating in a research note on Monday, June 24th. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. KeyCorp reaffirmed a “sell” rating and set a $38.00 price target on shares of International Paper in a research note on Thursday, July 25th. Stephens cut shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target for the company. in a research note on Monday, June 24th. Finally, Citigroup cut shares of International Paper from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $53.00 to $45.00 in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.82.
In related news, SVP Thomas J. Plath sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $45.17, for a total transaction of $45,170.00. Following the completion of the transaction, the senior vice president now owns 30,671 shares in the company, valued at approximately $1,385,409.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Sharon R. Ryan sold 22,507 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the transaction, the senior vice president now owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
International Paper Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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