Uncommon Cents Investing LLC raised its holdings in shares of International Paper (NYSE:IP – Get Rating) by 44.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,310 shares of the basic materials company’s stock after buying an additional 12,155 shares during the period. Uncommon Cents Investing LLC’s holdings in International Paper were worth $1,644,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in IP. Norges Bank purchased a new stake in shares of International Paper in the 4th quarter valued at approximately $188,782,000. BlackRock Inc. lifted its position in International Paper by 12.1% in the 1st quarter. BlackRock Inc. now owns 35,263,405 shares of the basic materials company’s stock worth $1,627,407,000 after buying an additional 3,811,743 shares in the last quarter. Greenhaven Associates Inc. lifted its position in International Paper by 196.0% in the 1st quarter. Greenhaven Associates Inc. now owns 4,995,325 shares of the basic materials company’s stock worth $230,534,000 after buying an additional 3,307,625 shares in the last quarter. Nordea Investment Management AB lifted its position in International Paper by 21.7% in the 1st quarter. Nordea Investment Management AB now owns 6,272,540 shares of the basic materials company’s stock worth $291,485,000 after buying an additional 1,118,816 shares in the last quarter. Finally, Cowa LLC lifted its position in International Paper by 13,649.1% in the 1st quarter. Cowa LLC now owns 1,002,172 shares of the basic materials company’s stock worth $463,000 after buying an additional 994,883 shares in the last quarter. 85.84% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of International Paper from $48.00 to $44.00 in a report on Tuesday, July 19th. KeyCorp cut their price objective on International Paper from $41.00 to $37.00 and set an “underweight” rating for the company in a research report on Friday, July 1st. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $53.00 to $46.00 in a research report on Tuesday, June 21st. Jefferies Financial Group cut International Paper from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $40.00 to $31.00 in a research report on Friday, September 16th. Finally, Wells Fargo & Company cut International Paper from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $58.00 to $47.00 in a report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, International Paper currently has a consensus rating of “Hold” and a consensus price target of $48.40.
International Paper Trading Down 2.7 %
International Paper (NYSE:IP – Get Rating) last posted its earnings results on Thursday, July 28th. The basic materials company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.13. International Paper had a return on equity of 17.25% and a net margin of 8.60%. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts predict that International Paper will post 4.54 EPS for the current year.
International Paper Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend was Friday, August 12th. International Paper’s payout ratio is presently 38.46%.
Insider Activity at International Paper
In related news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $36.25, for a total value of $167,270,477.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.42% of the stock is owned by company insiders.
About International Paper
International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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