Fruth Investment Management continued to hold its position in shares of International Paper Company (NYSE:IP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,575 shares of the basic materials company’s stock at the end of the second quarter. Fruth Investment Management’s holdings in International Paper were worth $428,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of IP. FNY Partners Fund LP raised its position in shares of 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 last quarter. Hefty Wealth Partners raised its position in shares of 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 last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in shares of International Paper during the first quarter valued at about $172,000. Parallel Advisors LLC raised its position in shares of 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 last quarter. Finally, Duncker Streett & Co. Inc. raised its position in shares of 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 last quarter. 83.08% of the stock is currently owned by institutional investors.
Shares of International Paper Company (IP) traded down 4.78% during midday trading on Friday, reaching $54.74. The company’s stock had a trading volume of 6,280,646 shares. The stock has a 50 day moving average of $56.61 and a 200-day moving average of $53.65. The company has a market capitalization of $23.05 billion, a P/E ratio of 27.80 and a beta of 1.48. International Paper Company has a 1-year low of $43.55 and a 1-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 EPS for the quarter, topping the 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 analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. International Paper’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that International Paper Company will post $3.60 earnings per share for the current year.
The company also recently announced 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. This represents a $1.85 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, August 11th. International Paper’s dividend payout ratio (DPR) is 93.91%.
Several equities analysts have issued reports on IP shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 price objective (up previously from $63.00) on shares of International Paper in a report on Saturday, April 29th. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $60.00 to $64.00 in a report on Thursday, July 13th. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday, July 11th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Finally, Vertical Research reissued a “buy” rating on shares of International Paper in a report on Friday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. International Paper presently has a consensus rating of “Hold” and an average price target 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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