Keybank National Association OH boosted its stake in shares of International Paper Co (NYSE:IP) by 11.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,912 shares of the basic materials company’s stock after purchasing an additional 1,119 shares during the quarter. Keybank National Association OH’s holdings in International Paper were worth $473,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in International Paper by 67.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock valued at $167,264,000 after purchasing an additional 1,667,274 shares during the last quarter. Geode Capital Management LLC increased its stake in International Paper by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock valued at $220,435,000 after purchasing an additional 384,793 shares during the last quarter. Pennsylvania Trust Co bought a new stake in International Paper during the first quarter valued at $393,000. Monte Financial Group LLC increased its stake in International Paper by 6.0% during the first quarter. Monte Financial Group LLC now owns 68,347 shares of the basic materials company’s stock valued at $3,162,000 after purchasing an additional 3,870 shares during the last quarter. Finally, BB&T Corp increased its stake in International Paper by 19.3% during the first quarter. BB&T Corp now owns 8,550 shares of the basic materials company’s stock valued at $396,000 after purchasing an additional 1,382 shares during the last quarter. 82.02% of the stock is owned by hedge funds and other institutional investors.
In other International Paper news, SVP Sharon R. Ryan sold 22,507 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $44.97, for a total value of $1,012,139.79. Following the completion of the sale, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.14. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The company had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the company earned $1.19 EPS. International Paper’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts predict that International Paper Co will post 4.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Wednesday, August 14th. International Paper’s payout ratio is 37.59%.
Several analysts have weighed in on IP shares. Stephens lowered shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 target price for the company. in a research note on Monday, June 24th. KeyCorp reiterated a “sell” rating and set a $38.00 target price on shares of International Paper in a research note on Thursday, July 25th. UBS Group set a $50.00 price target on shares of International Paper and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Citigroup downgraded shares of International Paper from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $53.00 to $45.00 in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. International Paper has an average rating of “Hold” and a consensus target price of $47.82.
International Paper Company 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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