BTC Capital Management Inc. boosted its stake in shares of International Paper Company (NYSE:IP) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 41,816 shares of the basic materials company’s stock after buying an additional 706 shares during the period. BTC Capital Management Inc.’s holdings in International Paper were worth $2,363,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of IP. DekaBank Deutsche Girozentrale increased its stake in International Paper by 41.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 66,312 shares of the basic materials company’s stock valued at $3,791,000 after buying an additional 19,313 shares during the last quarter. Crescent Grove Advisors LLC purchased a new stake in International Paper during the second quarter valued at $425,000. First Trust Advisors LP increased its stake in International Paper by 3.7% in the second quarter. First Trust Advisors LP now owns 329,988 shares of the basic materials company’s stock valued at $18,681,000 after buying an additional 11,698 shares during the last quarter. Partnervest Advisory Services LLC increased its stake in International Paper by 5.2% in the second quarter. Partnervest Advisory Services LLC now owns 10,186 shares of the basic materials company’s stock valued at $577,000 after buying an additional 501 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in International Paper by 3.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,068,155 shares of the basic materials company’s stock valued at $117,079,000 after buying an additional 72,032 shares during 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 market cap of $21.56 billion, a PE ratio of 26.52 and a beta of 1.46. The company has a 50-day moving average price of $56.11 and a 200-day moving average price of $53.69. 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict 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. Investors 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 currently 93.91%.
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Several research firms have weighed in on IP. Barclays PLC reiterated a “sell” rating and set a $50.00 price target on shares of International Paper in a research note on Wednesday, August 2nd. Vertical Research reiterated a “buy” rating on shares of International Paper in a research note on Friday, July 28th. KeyCorp reiterated a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. BidaskClub downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, ValuEngine cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. International Paper has a consensus rating of “Hold” and an average target price of $57.89.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.64% of the company’s stock.
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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