Twin Capital Management Inc. purchased a new position in International Paper Co (NYSE:IP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,210 shares of the basic materials company’s stock, valued at approximately $616,000.
Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in International Paper by 67.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock valued at $167,264,000 after acquiring an additional 1,667,274 shares during the period. Geode Capital Management LLC increased its holdings in shares of International Paper by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock worth $220,435,000 after purchasing an additional 384,793 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of International Paper during the first quarter worth approximately $515,000. Pennsylvania Trust Co bought a new position in shares of International Paper during the first quarter worth approximately $393,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of International Paper by 5.1% during the first quarter. Nisa Investment Advisors LLC now owns 200,578 shares of the basic materials company’s stock worth $9,281,000 after purchasing an additional 9,720 shares during the period. Institutional investors own 81.75% of the company’s stock.
In related news, SVP Sharon R. Ryan sold 22,507 shares of International Paper stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $44.97, for a total value of $1,012,139.79. Following the transaction, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at $2,768,083.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.
NYSE:IP traded up $0.36 during mid-day trading on Friday, reaching $38.99. The stock had a trading volume of 2,599,100 shares, compared to its average volume of 3,625,653. The stock has a 50-day simple moving average of $42.55 and a two-hundred day simple moving average of $44.65. The stock has a market capitalization of $15.18 billion, a PE ratio of 7.33, a P/E/G ratio of 1.68 and a beta of 1.49. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.46 and a quick ratio of 1.02. International Paper Co has a 12 month low of $37.55 and a 12 month high of $54.95.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.77 billion. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. Equities analysts expect that International Paper Co will post 4.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.00 dividend on an annualized basis and a yield of 5.13%. International Paper’s dividend payout ratio (DPR) is 37.59%.
Several brokerages have recently commented on IP. UBS Group set a $50.00 target price on shares of International Paper and gave the stock a “buy” rating in a report on Monday, June 24th. Citigroup cut shares of International Paper from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $53.00 to $45.00 in a report on Thursday, July 11th. KeyCorp reaffirmed a “sell” rating and set a $38.00 target price on shares of International Paper in a report on Thursday, July 25th. Finally, Stephens cut shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a report on Monday, June 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. International Paper has a consensus rating of “Hold” and an average target price of $47.82.
International Paper Profile
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.
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