Fiduciary Trust Co. continued to hold its stake in shares of International Paper Company (NYSE:IP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,636 shares of the basic materials company’s stock at the close of the second quarter. Fiduciary Trust Co.’s holdings in International Paper were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. FNY Partners Fund LP grew its holdings in shares of International Paper by 166.7% during the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,250 shares during the last quarter. Ffcm LLC grew its holdings in shares of International Paper by 148.0% during the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares during the last quarter. Asset Advisors Corp grew its holdings in shares of International Paper by 3.6% during the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock worth $136,000 after buying an additional 84 shares during the last quarter. Hefty Wealth Partners grew its holdings in shares of International Paper by 1.7% during the second quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock worth $182,000 after buying an additional 55 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of International Paper by 24.8% during the first quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock worth $182,000 after buying an additional 680 shares during the last quarter. 83.04% of the stock is currently owned by institutional investors.

Shares of International Paper Company (NYSE IP) opened at 54.78 on Friday. The stock’s 50 day moving average is $54.44 and its 200-day moving average is $53.65. International Paper Company has a 52-week low of $43.55 and a 52-week high of $58.95. The firm has a market capitalization of $22.62 billion, a P/E ratio of 27.82 and a beta of 1.46.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. International Paper’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, equities analysts forecast that International Paper Company will post $3.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 93.91%.

In other news, insider Gregory T. Wanta sold 1,044 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

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IP has been the topic of a number of research reports. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday, July 11th. DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.75 to $62.00 in a report on Monday, August 14th. BidaskClub lowered International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 24th. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $60.00 to $64.00 in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $60.07.

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.

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

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