Advisor Partners LLC Increases Position in International Paper Company (NYSE:IP)

Advisor Partners LLC boosted its position in shares of International Paper Company (NYSE:IP) by 10.6% during the second quarter, Holdings Channel reports. The fund owned 9,018 shares of the basic materials company’s stock after buying an additional 866 shares during the period. Advisor Partners LLC’s holdings in International Paper were worth $511,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Macquarie Group Ltd. raised its position in International Paper by 1,220.4% in the fourth quarter. Macquarie Group Ltd. now owns 136,003 shares of the basic materials company’s stock worth $7,216,000 after buying an additional 125,703 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in International Paper by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 355,123 shares of the basic materials company’s stock worth $18,033,000 after buying an additional 10,901 shares during the period. Manning & Napier Advisors LLC raised its position in International Paper by 10.1% in the first quarter. Manning & Napier Advisors LLC now owns 70,924 shares of the basic materials company’s stock worth $3,601,000 after buying an additional 6,505 shares during the period. Raymond James Trust N.A. raised its position in International Paper by 12.0% in the first quarter. Raymond James Trust N.A. now owns 12,585 shares of the basic materials company’s stock worth $639,000 after buying an additional 1,344 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in International Paper by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 124,622 shares of the basic materials company’s stock worth $6,328,000 after buying an additional 1,500 shares during the period. 83.04% of the stock is owned by institutional investors and hedge funds.

International Paper Company (IP) opened at 54.30 on Tuesday. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95. The company has a 50-day moving average price of $56.62 and a 200 day moving average price of $53.67. The firm has a market cap of $22.86 billion, a PE ratio of 27.58 and a beta of 1.46.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter last year, the company posted $0.92 earnings per share. International Paper’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that International Paper Company will post $3.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a yield of 3.41%. International Paper’s dividend payout ratio is currently 93.91%.

COPYRIGHT VIOLATION WARNING: This article was posted by BBNS and is the sole property of of BBNS. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://baseballnewssource.com/markets/advisor-partners-llc-increases-position-in-international-paper-company-nyseip/1408860.html.

A number of research firms recently issued reports on IP. ValuEngine lowered International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Zacks Investment Research lowered International Paper from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price target (up from $65.00) on shares of International Paper in a report on Friday, July 14th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Finally, Vertical Research reaffirmed a “buy” rating on shares of International Paper in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $57.89.

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 shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP).

Institutional Ownership by Quarter for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Company and related companies with our FREE daily email newsletter.

 


Latest News

Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns
Darren Daulton Former Catcher with Phillies Dies
Darren Daulton Former Catcher with Phillies Dies


Leave a Reply

 
© 2006-2017 BBNS.