Ffcm LLC grew its holdings in International Paper Company (NYSE:IP) by 148.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,081 shares of the basic materials company’s stock after acquiring an additional 1,242 shares during the period. Ffcm LLC’s holdings in International Paper were worth $119,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of IP. BlackRock Inc. grew its position in International Paper by 3,397.1% in the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock worth $1,888,138,000 after acquiring an additional 36,119,474 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of International Paper by 29.5% during the 1st quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after buying an additional 8,273,552 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of International Paper by 62.9% during the 1st quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock worth $324,455,000 after buying an additional 2,466,074 shares during the period. Iridian Asset Management LLC CT boosted its holdings in shares of International Paper by 149.4% during the 1st quarter. Iridian Asset Management LLC CT now owns 3,745,820 shares of the basic materials company’s stock worth $190,213,000 after buying an additional 2,243,965 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of International Paper by 64.2% during the 1st quarter. Ameriprise Financial Inc. now owns 5,369,840 shares of the basic materials company’s stock worth $271,771,000 after buying an additional 2,098,824 shares during the period. 83.04% of the stock is owned by institutional investors.
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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 stock was sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.63% of the company’s stock.
IP has been the subject of several recent analyst reports. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, July 11th. Vertical Research reaffirmed a “buy” rating on shares of International Paper in a report on Friday, July 28th. KeyCorp reiterated a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 target price on shares of International Paper in a research note on Friday, August 18th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $60.00 to $64.00 in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.07.
International Paper Company (NYSE IP) traded down 0.347% during midday trading on Friday, hitting $56.065. 950,725 shares of the stock traded hands. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95. The stock has a market capitalization of $23.15 billion, a PE ratio of 28.474 and a beta of 1.46. The firm’s 50 day moving average is $54.38 and its 200-day moving average is $53.76.
International Paper (NYSE:IP) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the company earned $0.92 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that International Paper Company will post $3.46 EPS for the current fiscal year.
The firm also recently declared 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 of this dividend is Friday, August 11th. This represents a $1.85 annualized dividend and a dividend yield of 3.29%. International Paper’s payout ratio is currently 93.91%.
About International Paper
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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