Retirement Systems of Alabama raised its position in shares of International Paper Co. (NYSE:IP) by 15.5% during the second quarter, Holdings Channel reports. The institutional investor owned 771,597 shares of the company’s stock after buying an additional 103,574 shares during the period. Retirement Systems of Alabama’s holdings in International Paper were worth $32,700,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its stake in International Paper by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 50,710 shares of the company’s stock worth $1,912,000 after buying an additional 200 shares in the last quarter. DnB Asset Management AS boosted its stake in shares of International Paper by 29.4% in the first quarter. DnB Asset Management AS now owns 29,497 shares of the company’s stock valued at $1,211,000 after buying an additional 6,700 shares during the period. Raymond James Trust N.A. boosted its stake in shares of International Paper by 13.9% in the first quarter. Raymond James Trust N.A. now owns 11,756 shares of the company’s stock valued at $482,000 after buying an additional 1,436 shares during the period. PGGM Investments boosted its stake in shares of International Paper by 2.5% in the first quarter. PGGM Investments now owns 282,449 shares of the company’s stock valued at $11,592,000 after buying an additional 6,868 shares during the period. Finally, Commonwealth Equity Services Inc boosted its stake in shares of International Paper by 36.0% in the first quarter. Commonwealth Equity Services Inc now owns 119,612 shares of the company’s stock valued at $4,909,000 after buying an additional 31,652 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of International Paper Co. (NYSE:IP) traded up 1.04% during mid-day trading on Friday, hitting $48.41. The company had a trading volume of 3,683,721 shares. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 26.22 and a beta of 1.59. The firm has a 50-day moving average price of $47.75 and a 200 day moving average price of $43.60. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. The company earned $5.30 billion during the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. International Paper’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. Analysts expect that International Paper Co. will post $3.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.76 dividend on an annualized basis and a yield of 3.64%. International Paper’s payout ratio is 94.12%.
Several equities research analysts have recently issued reports on the company. Goldman Sachs Group Inc. assumed coverage on International Paper in a report on Thursday. They issued a “neutral” rating and a $49.00 target price on the stock. Vetr cut International Paper from a “strong-buy” rating to a “buy” rating and set a $46.00 target price on the stock. in a report on Wednesday, June 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $42.00 target price on shares of International Paper in a report on Friday, July 29th. Citigroup Inc. lifted their target price on International Paper from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $47.00 target price on shares of International Paper in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus 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 value of $478,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William P. Hoel sold 20,000 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company 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.
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