Cubist Systematic Strategies LLC lowered its position in shares of International Paper Company (NYSE:IP) by 37.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,518 shares of the basic materials company’s stock after selling 7,415 shares during the period. Cubist Systematic Strategies LLC’s holdings in International Paper were worth $709,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. FNY Partners Fund LP grew its position in shares of International Paper by 166.7% during the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 1,250 shares during the last quarter. Ffcm LLC lifted its holdings in International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 1,242 shares during the period. Asset Advisors Corp lifted its holdings in International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 84 shares during the period. Parallel Advisors LLC lifted its holdings 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 worth $182,000 after purchasing an additional 680 shares during the period. Finally, Hefty Wealth Partners lifted its holdings 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 worth $182,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 83.00% of the company’s stock.
In other news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was 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 accessible through this link. 0.63% of the stock is owned by company insiders.
Shares of International Paper Company (IP) opened at 58.02 on Thursday. The company has a market cap of $23.96 billion, a PE ratio of 29.47 and a beta of 1.46. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95. The firm’s 50-day moving average price is $56.53 and its 200-day moving average price is $54.74.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, topping the 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 business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the company earned $0.92 EPS. International Paper’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts predict that International Paper Company will post $3.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.46. International Paper’s dividend payout ratio (DPR) is currently 93.91%.
IP has been the subject of several research analyst reports. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Thursday, June 29th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $64.00 in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price objective (up previously from $65.00) on shares of International Paper in a report on Friday, July 14th. Finally, ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.22.
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.
Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP).
Receive News & Ratings for International Paper Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Company and related companies with MarketBeat.com's FREE daily email newsletter.