Gulf International Bank UK Ltd raised its stake in International Paper Company (NYSE:IP) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,802 shares of the basic materials company’s stock after buying an additional 180 shares during the period. Gulf International Bank UK Ltd’s holdings in International Paper were worth $7,065,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in International Paper by 3,397.1% in the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock valued at $1,888,138,000 after buying an additional 36,119,474 shares during the period. Wellington Management Group LLP boosted its stake in International Paper by 29.5% in the first 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 buying an additional 8,273,552 shares during the period. Vanguard Group Inc. boosted its stake in International Paper by 2.5% in the first quarter. Vanguard Group Inc. now owns 28,881,442 shares of the basic materials company’s stock valued at $1,466,599,000 after buying an additional 694,637 shares during the period. Bank of New York Mellon Corp boosted its stake in International Paper by 62.9% in the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock valued at $324,455,000 after buying an additional 2,466,074 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in International Paper by 3.8% in the first quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock valued at $323,574,000 after buying an additional 230,750 shares during the period. Institutional investors and hedge funds own 83.68% of the company’s stock.
International Paper Company (IP) traded up 0.65% during mid-day trading on Friday, hitting $54.29. The company’s stock had a trading volume of 2,141,772 shares. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95. The company has a market cap of $22.42 billion, a P/E ratio of 27.57 and a beta of 1.46. The firm’s 50-day moving average is $55.67 and its 200-day moving average is $53.56.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $5.77 billion for 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 business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. Analysts predict that International Paper Company will post $3.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, August 11th. International Paper’s payout ratio is presently 93.91%.
Several research analysts have recently issued reports on the company. KeyCorp reissued a “hold” rating on shares of International Paper in a research report on Thursday, July 27th. ValuEngine lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 target price (up previously from $63.00) on shares of International Paper in a research report on Saturday, April 29th. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.75 to $62.00 in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.14.
In other 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 transaction of $57,649.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate 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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