Biltmore Wealth Management LLC bought a new stake in International Paper Company (NYSE:IP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,266 shares of the basic materials company’s stock, valued at approximately $468,000. International Paper accounts for about 0.5% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 25th largest position.
A number of other large investors have also bought and sold shares of the company. James Investment Research Inc. boosted its stake in International Paper by 11.5% in the first quarter. James Investment Research Inc. now owns 245,411 shares of the basic materials company’s stock valued at $12,462,000 after buying an additional 25,264 shares during the period. State of Alaska Department of Revenue boosted its stake 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 stake 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 stake 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. Finally, DnB Asset Management AS boosted its stake 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. 83.04% of the stock is owned by institutional investors.
International Paper Company (NYSE IP) opened at 52.21 on Friday. The stock has a market capitalization of $21.56 billion, a price-to-earnings 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. The company has a 50-day moving average price of $56.11 and a 200-day moving average price of $53.69.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. On average, equities research analysts forecast that International Paper Company will post $3.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date 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%.
A number of equities research analysts have recently weighed in on IP shares. Royal Bank Of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $56.00 in a research note on Wednesday, April 19th. Citigroup Inc. reaffirmed a “neutral” rating on shares of International Paper in a research note on Saturday, April 22nd. Deutsche Bank AG lifted their price objective on International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price objective (up from $63.00) on shares of International Paper in a research note on Saturday, April 29th. Finally, Barclays PLC lifted their price objective on International Paper from $45.00 to $48.00 and gave the company an “underweight” rating in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $57.89.
In other news, insider Gregory T. Wanta sold 1,044 shares of the firm’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 Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is owned by company 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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