KCM Investment Advisors LLC increased its holdings in International Paper Company (NYSE:IP) by 5.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,792 shares of the basic materials company’s stock after acquiring an additional 231 shares during the quarter. KCM Investment Advisors LLC’s holdings in International Paper were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. FNY Partners Fund LP lifted its stake in 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 acquiring an additional 1,250 shares during the period. Ffcm LLC lifted its stake in International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 1,242 shares during the period. Asset Advisors Corp lifted its stake in 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 acquiring an additional 84 shares during the period. Parallel Advisors LLC lifted its stake in 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 acquiring an additional 680 shares during the period. Finally, Hefty Wealth Partners lifted its stake in 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 acquiring an additional 55 shares during the period. 83.04% of the stock is owned by institutional investors.
In related 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.
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A number of brokerages recently commented on IP. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research note on Thursday, June 29th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target (up previously from $65.00) on shares of International Paper in a research note on Friday, July 14th. Zacks Investment Research lowered International Paper from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $53.75 to $62.00 in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus price target of $60.07.
International Paper Company (NYSE IP) opened at 56.23 on Friday. The company has a market capitalization of $23.22 billion, a P/E ratio of 28.56 and a beta of 1.46. The stock’s 50 day moving average price is $54.34 and its 200 day moving average price is $53.78. International Paper Company has a one year low of $43.55 and a one year high of $58.95.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. Equities analysts anticipate that International Paper Company will post $3.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, August 11th. International Paper’s dividend payout ratio (DPR) is currently 93.91%.
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.
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