Proffitt & Goodson Inc. purchased a new position in shares of International Paper Co (NYSE:IP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 791 shares of the basic materials company’s stock, valued at approximately $33,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Trust Advisors LP lifted its position in International Paper by 2.8% during the 1st quarter. First Trust Advisors LP now owns 773,373 shares of the basic materials company’s stock worth $35,784,000 after buying an additional 21,307 shares in the last quarter. FMR LLC boosted its holdings in International Paper by 4.3% during the 1st quarter. FMR LLC now owns 391,110 shares of the basic materials company’s stock valued at $18,096,000 after acquiring an additional 16,114 shares during the period. South Texas Money Management Ltd. boosted its holdings in International Paper by 4.5% during the 2nd quarter. South Texas Money Management Ltd. now owns 972,114 shares of the basic materials company’s stock valued at $42,112,000 after acquiring an additional 42,080 shares during the period. Foundations Investment Advisors LLC lifted its holdings in International Paper by 27.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 22,401 shares of the basic materials company’s stock worth $988,000 after buying an additional 4,806 shares during the period. Finally, Investors Research Corp lifted its holdings in International Paper by 1.4% in the 2nd quarter. Investors Research Corp now owns 21,607 shares of the basic materials company’s stock worth $936,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 81.65% of the company’s stock.
In other International Paper news, SVP Timothy S. Nicholls sold 45,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $42.44, for a total transaction of $1,909,800.00. Following the transaction, the senior vice president now directly owns 60,490 shares in the company, valued at approximately $2,567,195.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the transaction, the senior vice president now owns 61,554 shares in the company, valued at $2,768,083.38. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.14. The company had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.77 billion. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 earnings per share. Equities research analysts expect that International Paper Co will post 4.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 4.82%. This is a positive change from International Paper’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 37.59%.
IP has been the subject of a number of analyst reports. Wells Fargo & Co reduced their price objective on International Paper from $43.00 to $42.00 and set a “market perform” rating for the company in a research report on Tuesday, October 8th. KeyCorp reissued a “sell” rating and set a $38.00 price objective on shares of International Paper in a research note on Thursday, July 25th. Stephens set a $50.00 price objective on shares of International Paper and gave the company a “hold” rating in a research note on Wednesday, October 9th. Citigroup reduced their price objective on shares of International Paper from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, ValuEngine lowered shares of International Paper from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $45.20.
About International Paper
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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 Co (NYSE:IP).
Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.