Ffcm LLC lifted its position in shares of International Paper Company (NYSE:IP) by 148.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,081 shares of the basic materials company’s stock after purchasing an additional 1,242 shares during the period. Ffcm LLC’s holdings in International Paper were worth $119,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of IP. FNY Partners Fund LP increased its position in International Paper by 166.7% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 1,250 shares during the period. Asset Advisors Corp boosted its holdings in International Paper by 3.6% in the 2nd quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 84 shares in the last quarter. Parallel Advisors LLC boosted its holdings in International Paper by 24.8% in the 1st quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 680 shares in the last quarter. Hefty Wealth Partners boosted its holdings in International Paper by 1.7% in the 2nd quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 55 shares in the last quarter. Finally, GWM Advisors LLC boosted its holdings in International Paper by 5.4% in the 1st quarter. GWM Advisors LLC now owns 4,032 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.
In other news, insider Gregory T. Wanta sold 1,044 shares of the 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 document filed with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by corporate insiders.
Shares of International Paper Company (IP) opened at 56.05 on Friday. The stock’s 50 day moving average price is $54.48 and its 200-day moving average price is $53.84. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95. The firm has a market capitalization of $23.14 billion, a P/E ratio of 28.47 and a beta of 1.46.
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, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts expect that International Paper Company will post $3.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, August 11th. International Paper’s payout ratio is presently 93.91%.
A number of brokerages have weighed in on IP. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $64.00 in a report on Thursday, July 13th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Vertical Research reaffirmed a “buy” rating on shares of International Paper in a report on Friday, July 28th. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, July 11th. Finally, Barclays PLC reissued a “sell” rating and set a $50.00 price target on shares of International Paper in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $60.07.
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International Paper 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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