International Paper Company (IP) Position Cut by Conning Inc.

Conning Inc. lessened its stake in International Paper Company (NYSE:IP) by 90.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,298 shares of the basic materials company’s stock after selling 118,370 shares during the period. Conning Inc.’s holdings in International Paper were worth $699,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IP. Exencial Wealth Advisors LLC lifted its holdings in International Paper by 0.3% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock valued at $357,000 after acquiring an additional 16 shares during the last quarter. Piedmont Investment Advisors LLC lifted its holdings in International Paper by 0.5% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock valued at $245,000 after acquiring an additional 20 shares during the last quarter. Mechanics Bank Trust Department lifted its holdings in International Paper by 0.6% in the 2nd quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 26 shares during the last quarter. Moloney Securities Asset Management LLC lifted its holdings in International Paper by 0.9% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock valued at $282,000 after acquiring an additional 44 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in International Paper by 2.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 83.06% of the company’s stock.

A number of equities research analysts have weighed in on IP shares. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Zacks Investment Research raised shares of International Paper from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. DA Davidson raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.75 to $62.00 in a report on Monday, August 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 price target on shares of International Paper in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.73.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by Community Financial News and is owned by of Community Financial News. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.com-unik.info/2017/11/02/international-paper-company-ip-position-cut-by-conning-inc.html.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. This is a positive change from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s payout ratio is presently 85.25%.

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.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP).

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

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit