Checchi Capital Advisers LLC lowered its position in shares of International Paper Company (NYSE:IP) by 7.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,336 shares of the basic materials company’s stock after selling 334 shares during the period. Checchi Capital Advisers LLC’s holdings in International Paper were worth $245,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. FNY Partners Fund LP boosted its stake in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,250 shares in the last quarter. Asset Advisors Corp boosted its stake in shares of International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock worth $136,000 after buying an additional 84 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of International Paper during the first quarter worth approximately $172,000. Parallel Advisors LLC boosted its stake in shares of International Paper by 24.8% in the first quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock worth $182,000 after buying an additional 680 shares in the last quarter. Finally, Hefty Wealth Partners boosted its stake in shares of International Paper by 1.7% in the second quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock worth $182,000 after buying an additional 55 shares in the last quarter. 83.68% of the stock is owned by institutional investors and hedge funds.
International Paper Company (NYSE:IP) opened at 53.94 on Friday. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95. The company’s 50 day moving average is $55.71 and its 200-day moving average is $53.58. The company has a market cap of $22.27 billion, a price-to-earnings ratio of 27.39 and a beta of 1.46.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, analysts expect that International Paper Company will post $3.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, August 11th. International Paper’s payout ratio is presently 93.91%.
ILLEGAL ACTIVITY WARNING: “Checchi Capital Advisers LLC Cuts Position in International Paper Company (IP)” was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.com-unik.info/2017/08/18/checchi-capital-advisers-llc-cuts-position-in-international-paper-company-ip.html.
A number of analysts have commented on IP shares. BidaskClub raised shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Jefferies Group LLC reissued 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. Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $64.00 in a research note on Thursday, July 13th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, July 11th. Finally, Vertical Research reissued a “buy” rating on shares of International Paper in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. International Paper has an average rating of “Hold” and an average target price of $58.14.
In related news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.64% of the stock is currently owned by 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.
What are top analysts saying about International Paper Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for International Paper Company and related companies.