Livingston Group Asset Management CO operating as Southport Capital Management cut its stake in International Paper Co. (NYSE:IP) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,882 shares of the company’s stock after selling 100 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in International Paper were worth $504,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in shares of International Paper by 11.2% in the second quarter. Alps Advisors Inc. now owns 608,955 shares of the company’s stock worth $25,808,000 after buying an additional 61,508 shares during the last quarter. Legal & General Group Plc raised its stake in shares of International Paper by 2.9% in the first quarter. Legal & General Group Plc now owns 1,974,481 shares of the company’s stock worth $81,027,000 after buying an additional 55,797 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of International Paper by 68.6% in the first quarter. Loomis Sayles & Co. L P now owns 22,757 shares of the company’s stock worth $934,000 after buying an additional 9,263 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of International Paper by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,272,491 shares of the company’s stock worth $134,028,000 after buying an additional 42,981 shares during the last quarter. Finally, Williams Jones & Associates LLC bought a new stake in shares of International Paper during the first quarter worth $607,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.
Shares of International Paper Co. (NYSE:IP) traded up 1.39% on Friday, hitting $47.98. 4,253,061 shares of the stock were exchanged. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90. The stock has a market cap of $19.73 billion, a PE ratio of 25.99 and a beta of 1.59. The company’s 50 day moving average is $47.97 and its 200-day moving average is $43.92.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The firm earned $5.30 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. International Paper’s quarterly revenue was down 6.9% on a year-over-year basis. Analysts predict that International Paper Co. will post $3.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 94.12%.
A number of brokerages recently weighed in on IP. Jefferies Group reiterated a “hold” rating on shares of International Paper in a report on Friday, August 5th. Credit Agricole SA lifted their price objective on shares of International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a report on Tuesday, September 6th. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, July 5th. Credit Suisse Group AG reiterated a “hold” rating and set a $47.00 price objective on shares of International Paper in a report on Monday, August 1st. Finally, Vetr lowered shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 price objective for the company. in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.24.
In other International Paper news, insider Thomas G. Kadien sold 10,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $47.86, for a total transaction of $478,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carol L. Roberts sold 12,256 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $46.20, for a total transaction of $566,227.20. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
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.
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