Royal London Asset Management Ltd. increased its stake in shares of International Paper Co (NYSE:IP) by 14.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 553,526 shares of the basic materials company’s stock after acquiring an additional 71,662 shares during the period. Royal London Asset Management Ltd. owned 0.14% of International Paper worth $23,995,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of IP. OLD National Bancorp IN grew its holdings in International Paper by 0.7% in the 2nd quarter. OLD National Bancorp IN now owns 307,801 shares of the basic materials company’s stock valued at $13,333,000 after buying an additional 2,209 shares during the last quarter. Swiss National Bank grew its holdings in International Paper by 1.7% in the 1st quarter. Swiss National Bank now owns 1,285,318 shares of the basic materials company’s stock valued at $59,472,000 after buying an additional 21,800 shares during the last quarter. Good Life Advisors LLC grew its holdings in International Paper by 10.3% in the 1st quarter. Good Life Advisors LLC now owns 7,913 shares of the basic materials company’s stock valued at $363,000 after buying an additional 736 shares during the last quarter. Inlet Private Wealth LLC grew its holdings in International Paper by 23.5% in the 2nd quarter. Inlet Private Wealth LLC now owns 6,300 shares of the basic materials company’s stock valued at $269,000 after buying an additional 1,200 shares during the last quarter. Finally, Horizon Investments LLC bought a new stake in shares of International Paper in the 1st quarter worth approximately $258,000. 81.75% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the company. Stephens downgraded International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a research report on Monday, June 24th. UBS Group set a $50.00 price objective on International Paper and gave the stock a “buy” rating in a research report on Monday, June 24th. KeyCorp reiterated a “sell” rating and issued a $38.00 price objective on shares of International Paper in a research report on Thursday, July 25th. Citigroup downgraded 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 research report on Thursday, July 11th. Finally, Bank of America downgraded International Paper from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Three equities research 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.82.
In other news, SVP Thomas J. Plath sold 1,000 shares of International Paper stock in a transaction on Friday, May 17th. The stock was sold at an average price of $45.17, for a total value of $45,170.00. Following the completion of the sale, the senior vice president now directly owns 30,671 shares of the company’s stock, valued at approximately $1,385,409.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sharon R. Ryan sold 22,507 shares of International Paper stock in a transaction on 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 $2,768,083.38. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
IP traded up $1.70 during trading on Tuesday, hitting $40.24. The company’s stock had a trading volume of 185,339 shares, compared to its average volume of 3,567,779. The company’s 50 day moving average price is $42.84. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 1.38. International Paper Co has a 12 month low of $37.55 and a 12 month high of $54.95. The company has a market capitalization of $15.65 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.14. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The firm had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts predict that International Paper Co will post 4.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.00 annualized dividend and a yield of 4.97%. International Paper’s payout ratio is 37.59%.
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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