Nisa Investment Advisors LLC cut its stake in shares of International Paper Company (NYSE:IP) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 196,279 shares of the basic materials company’s stock after selling 17,300 shares during the period. Nisa Investment Advisors LLC’s holdings in International Paper were worth $10,910,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wilbanks Smith & Thomas Asset Management LLC raised its position in 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 position in 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 position in 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 position in 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 position in 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. 83.09% of the stock is owned by institutional investors and hedge funds.
Shares of International Paper Company (IP) opened at 53.93 on Friday. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95. The firm has a market cap of $22.71 billion, a PE ratio of 27.39 and a beta of 1.46. The firm’s 50-day moving average is $56.62 and its 200-day moving average is $53.67.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that International Paper Company will post $3.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 93.91%.
Several research analysts have recently commented on the stock. Deutsche Bank AG raised their price objective on shares of International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price objective (up previously from $65.00) on shares of International Paper in a research note on Friday, July 14th. KeyCorp reiterated a “hold” rating on shares of International Paper in a research note on Thursday, June 29th. BidaskClub upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of International Paper in a research note on Saturday, April 22nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $57.89.
In related news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.64% of the company’s stock.
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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