Gradient Investments LLC Buys 1,592 Shares of International Paper Co. (IP)
Gradient Investments LLC increased its stake in International Paper Co. (NYSE:IP) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,544 shares of the company’s stock after buying an additional 1,592 shares during the period. Gradient Investments LLC’s holdings in International Paper were worth $5,064,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Springbok Capital Management LLC boosted its position in International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock valued at $171,000 after buying an additional 1,405 shares during the period. LPL Financial LLC boosted its position in International Paper by 77.8% in the first quarter. LPL Financial LLC now owns 172,489 shares of the company’s stock valued at $6,877,000 after buying an additional 75,489 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in International Paper by 91.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 31,051 shares of the company’s stock valued at $1,275,000 after buying an additional 14,828 shares during the period. Euclid Advisors LLC acquired a new position in International Paper during the first quarter valued at about $8,079,000. Finally, First Republic Investment Management Inc. boosted its position in International Paper by 5.1% in the first quarter. First Republic Investment Management Inc. now owns 27,304 shares of the company’s stock valued at $1,122,000 after buying an additional 1,319 shares during the period. Institutional investors own 81.87% of the company’s stock.
International Paper Co. (NYSE:IP) traded down 0.29% during midday trading on Monday, hitting $48.31. The stock had a trading volume of 2,503,897 shares. The firm has a 50-day moving average of $46.29 and a 200 day moving average of $45.13. The firm has a market capitalization of $19.87 billion, a P/E ratio of 23.27 and a beta of 1.52. 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 results on Thursday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.02. International Paper had a return on equity of 35.28% and a net margin of 4.09%. The firm earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. International Paper’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities analysts forecast that International Paper Co. will post $3.34 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be issued a $0.4625 dividend. This is a positive change from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, November 10th. International Paper’s payout ratio is currently 88.52%.
Several equities analysts recently issued reports on IP shares. Jefferies Group upped their price objective on International Paper from $47.00 to $49.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Deutsche Bank AG upped their price objective on International Paper from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Vetr raised International Paper from a “buy” rating to a “strong-buy” rating and set a $51.66 price objective on the stock in a research report on Monday, October 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $42.00 price objective on shares of International Paper in a research report on Friday, July 29th. Finally, Macquarie cut International Paper from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.83.
In other International Paper news, insider William P. Hoel sold 20,000 shares of International Paper stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas G. Kadien sold 10,000 shares of International Paper stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. 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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