Trust Co. of Vermont boosted its stake in shares of International Paper Company (NYSE:IP) by 65.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,492 shares of the basic materials company’s stock after buying an additional 5,313 shares during the period. Trust Co. of Vermont’s holdings in International Paper were worth $763,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of International Paper by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock valued at $326,000 after buying an additional 20 shares during the last quarter. Vaughan David Investments Inc. IL raised its stake in shares of International Paper by 0.5% in the first quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock valued at $216,000 after buying an additional 21 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of International Paper by 0.8% in the first quarter. Checchi Capital Advisers LLC now owns 4,670 shares of the basic materials company’s stock valued at $237,000 after buying an additional 37 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of International Paper by 0.9% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 5,859 shares of the basic materials company’s stock valued at $298,000 after buying an additional 50 shares during the last quarter. Finally, Hefty Wealth Partners raised its stake in shares of International Paper by 1.7% in the second quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock valued at $182,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 83.10% of the company’s stock.
International Paper Company (NYSE IP) opened at 57.63 on Wednesday. The stock has a market capitalization of $23.80 billion, a price-to-earnings ratio of 30.80 and a beta of 1.48. The company’s 50-day moving average is $55.95 and its 200 day moving average is $53.47. International Paper Company has a one year low of $43.55 and a one year high of $58.95.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.44 billion. International Paper had a net margin of 3.63% and a return on equity of 30.44%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. Equities analysts expect that International Paper Company will post $3.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 98.40%.
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IP has been the topic of a number of recent research reports. Jefferies Group LLC restated a “buy” rating and issued a $63.00 target price on shares of International Paper in a report on Wednesday, April 12th. Royal Bank Of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $50.00 to $56.00 in a research report on Wednesday, April 19th. Citigroup Inc. reissued a “neutral” rating on shares of International Paper in a research report on Saturday, April 22nd. Deutsche Bank AG lifted their price target on International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Finally, Barclays PLC lifted their price target on International Paper from $45.00 to $48.00 and gave the company an “underweight” rating in a research report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $56.90.
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.
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