Trust Co. of Vermont raised its position in shares of International Paper Company (NYSE:IP) by 65.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased 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 buying an additional 36,119,474 shares during the period. Wellington Management Group LLP increased its position in International Paper by 29.5% in the first 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 increased its position in International Paper by 62.9% in the first 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 increased its position in International Paper by 149.4% in the first 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. increased its position in International Paper by 64.2% in the first 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. 83.09% of the stock is owned by institutional investors and hedge funds.
International Paper Company (NYSE IP) opened at 53.93 on Friday. The company has a market capitalization of $22.71 billion, a PE ratio of 27.39 and a beta of 1.46. International Paper Company has a 52-week low of $43.55 and a 52-week high of $58.95. The company has a 50-day moving average price of $56.62 and a 200 day moving average price of $53.67.
International Paper (NYSE:IP) last released its quarterly earnings results 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 net margin of 3.73% and a return on equity of 27.09%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts anticipate that International Paper Company will post $3.47 earnings per share for the current year.
The company 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. 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 is currently 93.91%.
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IP has been the topic of several recent research reports. Jefferies Group LLC restated a “buy” rating and issued a $63.00 price target on shares of International Paper in a research note on Wednesday, April 12th. Barclays PLC upped their price target on International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a research note on Monday, May 1st. Citigroup Inc. restated a “neutral” rating on shares of International Paper in a research note on Saturday, April 22nd. Deutsche Bank AG upped their price target on International Paper from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $56.00 in a research note on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.89.
In other International Paper 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 value of $57,649.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.64% of the stock is currently owned by insiders.
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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