Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of International Paper Company (NYSE:IP) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,012,831 shares of the basic materials company’s stock after buying an additional 26,723 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.25% of International Paper worth $57,336,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IP. JPMorgan Chase & Co. boosted its position in shares of International Paper by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 438,814 shares of the basic materials company’s stock valued at $22,282,000 after buying an additional 9,553 shares in the last quarter. Private Trust Co. NA boosted its position in shares of International Paper by 10.4% in the second quarter. Private Trust Co. NA now owns 5,245 shares of the basic materials company’s stock valued at $296,000 after buying an additional 492 shares in the last quarter. Sound Shore Management Inc. CT boosted its position in shares of International Paper by 16.5% in the first quarter. Sound Shore Management Inc. CT now owns 3,370,525 shares of the basic materials company’s stock valued at $171,155,000 after buying an additional 477,084 shares in the last quarter. City Holding Co. boosted its position in shares of International Paper by 2.5% in the second quarter. City Holding Co. now owns 4,100 shares of the basic materials company’s stock valued at $232,000 after buying an additional 100 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its position in shares of International Paper by 52.2% in the first quarter. Pettyjohn Wood & White Inc. now owns 40,723 shares of the basic materials company’s stock valued at $2,068,000 after buying an additional 13,975 shares in the last quarter. Institutional investors own 83.02% of the company’s stock.

International Paper Company (NYSE:IP) opened at 54.59 on Monday. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95. The company’s 50-day moving average is $55.31 and its 200-day moving average is $53.55. The company has a market cap of $22.54 billion, a P/E ratio of 27.72 and a beta of 1.46.

International Paper (NYSE:IP) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. On average, equities research analysts expect that International Paper Company will post $3.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.39%. International Paper’s dividend payout ratio (DPR) is presently 93.91%.

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A number of equities research analysts have weighed in on IP shares. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, July 11th. Vertical Research restated a “buy” rating on shares of International Paper in a report on Friday, July 28th. KeyCorp restated a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Barclays PLC upped their price objective on shares of International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, May 1st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $66.00 price objective on shares of International Paper in a report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $58.89.

In other news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.63% of the company’s stock.

International Paper Company Profile

International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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