Investment Counsel Inc. Holds Stake in International Paper Company (IP)

Investment Counsel Inc. held its position in International Paper Company (NYSE:IP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the basic materials company’s stock at the end of the second quarter. Investment Counsel Inc.’s holdings in International Paper were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position 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 last quarter. Wellington Management Group LLP raised 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 worth $1,845,965,000 after buying an additional 8,273,552 shares in the last quarter. Vanguard Group Inc. raised 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 worth $1,466,599,000 after buying an additional 694,637 shares in the last quarter. Bank of New York Mellon Corp raised 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 worth $324,455,000 after buying an additional 2,466,074 shares in the last quarter. Finally, Clearbridge Investments LLC raised 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 worth $323,574,000 after buying an additional 230,750 shares in the last quarter. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of International Paper Company (NYSE IP) traded up 0.65% on Friday, hitting $54.29. The stock had a trading volume of 2,141,772 shares. The company has a 50-day moving average of $55.67 and a 200 day moving average of $53.56. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of 27.57 and a beta of 1.46.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $5.72 billion. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts predict that International Paper Company will post $3.47 EPS for the current year.

The firm 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 $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.41%. International Paper’s dividend payout ratio (DPR) is presently 93.91%.

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A number of research firms have recently commented on IP. ValuEngine lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of International Paper in a research report on Friday, July 14th. Zacks Investment Research lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. KeyCorp reissued a “hold” rating on shares of International Paper in a research report on Thursday, July 27th. Finally, Vertical Research reissued a “buy” rating on shares of International Paper in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.14.

In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total transaction of $57,649.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.64% of the company’s stock.

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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