10 15 Associates Inc. boosted its position in shares of International Paper Co (NYSE:IP) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,585 shares of the basic materials company’s stock after acquiring an additional 1,215 shares during the period. 10 15 Associates Inc.’s holdings in International Paper were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Private Capital Group LLC raised its holdings in shares of International Paper by 227.0% in the first quarter. Private Capital Group LLC now owns 2,093 shares of the basic materials company’s stock worth $112,000 after buying an additional 1,453 shares during the last quarter. Silvant Capital Management LLC purchased a new position in shares of International Paper during the first quarter worth $119,000. Signaturefd LLC purchased a new position in shares of International Paper during the first quarter worth $120,000. Squar Milner Financial Services LLC purchased a new position in shares of International Paper during the second quarter worth $125,000. Finally, Vigilant Capital Management LLC raised its holdings in shares of International Paper by 375.1% during the second quarter. Vigilant Capital Management LLC now owns 3,088 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 2,438 shares during the last quarter. 81.89% of the stock is owned by institutional investors.
In other news, insider Carleton C. Ealy sold 22,000 shares of International Paper stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $56.79, for a total value of $1,249,380.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Sharon R. Ryan sold 15,000 shares of International Paper stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $52.87, for a total transaction of $793,050.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,930 shares of company stock worth $2,652,980. Company insiders own 0.32% of the company’s stock.
Several brokerages recently issued reports on IP. Stephens set a $66.00 target price on shares of International Paper and gave the stock a “hold” rating in a report on Wednesday, June 6th. BMO Capital Markets raised shares of International Paper from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $65.00 to $70.00 in a report on Wednesday, June 6th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, June 5th. Royal Bank of Canada raised shares of International Paper from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $65.69 to $67.00 in a report on Wednesday, June 6th. Finally, Deutsche Bank began coverage on shares of International Paper in a report on Monday, June 18th. They set a “hold” rating and a $64.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $64.38.
Shares of NYSE IP opened at $51.97 on Monday. International Paper Co has a 52-week low of $50.00 and a 52-week high of $66.94. The stock has a market capitalization of $21.31 billion, a PE ratio of 14.89, a P/E/G ratio of 1.05 and a beta of 1.50. The company has a current ratio of 1.57, a quick ratio of 1.13 and a debt-to-equity ratio of 1.57.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 26th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.10. International Paper had a net margin of 12.95% and a return on equity of 29.24%. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. research analysts predict that International Paper Co will post 5.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Wednesday, August 15th will be given a $0.475 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.66%. International Paper’s dividend payout ratio (DPR) is 54.44%.
International Paper Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
Further Reading: Market Capitalization
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