Nomura Asset Management Co. Ltd. cut its position in International Paper Company (NYSE:IP) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,814 shares of the basic materials company’s stock after selling 1,016 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in International Paper were worth $2,682,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in IP. FNY Partners Fund LP increased its position in International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,250 shares during the period. Hefty Wealth Partners increased its position in International Paper by 4,425.7% in the first quarter. Hefty Wealth Partners now owns 3,168 shares of the basic materials company’s stock valued at $160,000 after buying an additional 3,098 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in International Paper during the first quarter valued at $172,000. Parallel Advisors LLC increased its position in International Paper by 24.8% in the first quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock valued at $182,000 after buying an additional 680 shares during the period. Finally, Duncker Streett & Co. Inc. increased its position in International Paper by 9.0% in the first quarter. Duncker Streett & Co. Inc. now owns 3,630 shares of the basic materials company’s stock valued at $184,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.
Shares of International Paper Company (IP) traded down 0.57% on Tuesday, hitting $53.99. The company’s stock had a trading volume of 1,569,325 shares. The stock has a 50-day moving average price of $56.47 and a 200 day moving average price of $53.68. The firm has a market cap of $22.73 billion, a price-to-earnings ratio of 27.42 and a beta of 1.46. International Paper Company has a one year low of $43.55 and a one year high of $58.95.
International Paper (NYSE:IP) last posted its earnings results 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. 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 during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts predict that International Paper Company will post $3.47 EPS for the current 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 given a $0.4625 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.85 annualized dividend and a yield of 3.43%. International Paper’s dividend payout ratio is presently 93.91%.
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A number of research firms have commented on IP. Deutsche Bank AG raised their price target on International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. Jefferies Group LLC reissued 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 reissued a “hold” rating on shares of International Paper in a report on Thursday, June 29th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Three equities research 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. International Paper presently has an average rating of “Hold” and an average price target of $57.89.
In related news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.64% of the stock is currently owned by insiders.
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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