Burke & Herbert Bank & Trust Co. maintained its position in shares of International Paper Co. (NYSE:IP) during the second quarter, Holdings Channel reports. The institutional investor owned 7,534 shares of the company’s stock at the end of the second quarter. Burke & Herbert Bank & Trust Co.’s holdings in International Paper were worth $319,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in IP. BlackRock Fund Advisors boosted its position in shares of International Paper by 48.3% in the first quarter. BlackRock Fund Advisors now owns 10,300,909 shares of the company’s stock valued at $422,749,000 after buying an additional 3,356,879 shares during the last quarter. BlackRock Group LTD boosted its position in shares of International Paper by 42.8% in the first quarter. BlackRock Group LTD now owns 5,612,262 shares of the company’s stock valued at $230,327,000 after buying an additional 1,681,518 shares during the last quarter. Bank of Montreal Can bought a new position in shares of International Paper during the second quarter valued at about $70,056,000. PGGM Investments boosted its position in shares of International Paper by 266.0% in the second quarter. PGGM Investments now owns 1,033,630 shares of the company’s stock valued at $43,805,000 after buying an additional 751,181 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of International Paper by 2.7% in the first quarter. Wellington Management Group LLP now owns 26,110,129 shares of the company’s stock valued at $1,071,560,000 after buying an additional 685,795 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.
International Paper Co. (NYSE:IP) traded down 0.38% on Monday, hitting $47.80. The stock had a trading volume of 2,346,006 shares. The company’s 50 day moving average price is $48.00 and its 200-day moving average price is $43.98. The company has a market cap of $19.66 billion, a price-to-earnings ratio of 25.89 and a beta of 1.55. International Paper Co. has a 12-month low of $32.50 and a 12-month high of $49.90.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The firm earned $5.30 billion during the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a return on equity of 35.41% and a net margin of 3.58%. International Paper’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 earnings per share. Equities research analysts anticipate that International Paper Co. will post $3.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Thursday, August 11th. International Paper’s dividend payout ratio is currently 94.12%.
Several equities analysts have recently issued reports on IP shares. Jefferies Group reiterated a “hold” rating on shares of International Paper in a research note on Monday, August 22nd. Wells Fargo & Co. reiterated a “buy” rating on shares of International Paper in a research note on Monday, June 20th. Credit Agricole SA lifted their price objective on International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a research note on Tuesday, September 6th. Deutsche Bank AG lifted their price objective on International Paper from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 10th. Finally, Zacks Investment Research upgraded International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. International Paper presently has a consensus rating of “Hold” and a consensus target price of $47.71.
In other International Paper news, insider William P. Hoel sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $48.12, for a total transaction of $962,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Carol L. Roberts sold 12,256 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $46.20, for a total value of $566,227.20. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.
International Paper Company Profile
International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, 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 Co. (NYSE:IP).
Receive News & Ratings for International Paper Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Co. and related companies with MarketBeat.com's FREE daily email newsletter.