Security National Bank of Sioux City Iowa IA Purchases 117 Shares of International Paper Company (IP)

Security National Bank of Sioux City Iowa IA grew its position in shares of International Paper Company (NYSE:IP) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,408 shares of the basic materials company’s stock after purchasing an additional 117 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in International Paper were worth $759,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of International Paper by 4.4% during the 2nd quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after purchasing an additional 1,648,915 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of International Paper by 29.5% during the 1st quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock valued at $1,845,965,000 after purchasing an additional 8,273,552 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of International Paper by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock valued at $1,645,398,000 after purchasing an additional 184,066 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock valued at $409,080,000 after purchasing an additional 836,888 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of International Paper by 3.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock valued at $323,574,000 after purchasing an additional 230,750 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

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Several equities analysts have recently weighed in on IP shares. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, July 11th. DA Davidson raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.75 to $62.00 in a research note on Monday, August 14th. BidaskClub cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. KeyCorp reissued a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $60.00 to $64.00 in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. International Paper has an average rating of “Hold” and an average target price of $60.27.

Shares of International Paper Company (NYSE:IP) traded up 1.02% during midday trading on Tuesday, reaching $57.61. 384,312 shares of the company’s stock traded hands. The company has a market capitalization of $23.79 billion, a PE ratio of 29.26 and a beta of 1.46. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95. The stock’s 50 day moving average is $55.74 and its 200-day moving average is $54.42.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. International Paper’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. On average, analysts forecast that International Paper Company will post $3.46 earnings per share for the current fiscal year.

International Paper Company Profile

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.

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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