ING Groep NV purchased a new position in shares of International Paper Co (NYSE:IP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,040 shares of the basic materials company’s stock, valued at approximately $523,000.
Several other institutional investors have also modified their holdings of IP. Private Capital Group LLC lifted its stake in shares of International Paper by 227.0% during the 1st quarter. Private Capital Group LLC now owns 2,093 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 1,453 shares during the period. Silvant Capital Management LLC purchased a new position in shares of International Paper during the 1st quarter worth $119,000. Signaturefd LLC purchased a new position in shares of International Paper during the 1st quarter worth $120,000. Squar Milner Financial Services LLC purchased a new position in shares of International Paper during the 2nd quarter worth $125,000. Finally, Vigilant Capital Management LLC lifted its stake in shares of International Paper by 375.1% during the 2nd 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 period. 82.14% of the stock is currently owned by institutional investors.
Shares of International Paper stock opened at $51.43 on Thursday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.57 and a quick ratio of 1.13. The stock has a market cap of $20.91 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. International Paper Co has a 1-year low of $50.00 and a 1-year high of $66.94.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 26th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.10. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.80 billion. International Paper had a return on equity of 29.24% and a net margin of 12.95%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. analysts predict that International Paper Co will post 5.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Wednesday, August 15th will be paid a dividend of $0.475 per share. The ex-dividend date is Tuesday, August 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.69%. International Paper’s dividend payout ratio is presently 54.44%.
In other news, insider Carleton C. Ealy sold 22,000 shares of the firm’s stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $56.79, for a total transaction of $1,249,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider W. Michael Jr. Amick sold 10,930 shares of the firm’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $55.86, for a total value of $610,549.80. Following the sale, the insider now owns 29,844 shares of the company’s stock, valued at $1,667,085.84. The disclosure for this sale can be found here. Insiders have sold 64,930 shares of company stock valued at $3,545,990 over the last 90 days. Insiders own 0.32% of the company’s stock.
Several research analysts recently weighed in on the company. ValuEngine raised International Paper from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. Wells Fargo & Co raised International Paper from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $66.94 in a research report on Friday, June 1st. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, June 5th. Royal Bank of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $65.69 to $67.00 in a research report on Wednesday, June 6th. Finally, BMO Capital Markets raised International Paper from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $65.00 to $70.00 in a research report on Wednesday, June 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. International Paper presently has a consensus rating of “Hold” and an average target price of $64.38.
International Paper Company 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.
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