Stephens Inc. AR Acquires 17,663 Shares of International Paper Company (IP)
Stephens Inc. AR lifted its holdings in International Paper Company (NYSE:IP) by 43.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 58,784 shares of the basic materials company’s stock after acquiring an additional 17,663 shares during the quarter. Stephens Inc. AR’s holdings in International Paper were worth $3,328,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of International Paper in the 2nd quarter worth approximately $424,000. FNY Partners Fund LP lifted its holdings in shares of International Paper by 166.7% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 1,250 shares during the last quarter. Ffcm LLC lifted its holdings in shares of International Paper by 148.0% in the 2nd quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 1,242 shares during the last quarter. Asset Advisors Corp lifted its holdings in shares of International Paper by 3.6% in the 2nd quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock worth $136,000 after acquiring an additional 84 shares during the last quarter. Finally, Hefty Wealth Partners lifted its holdings in shares of International Paper by 1.7% in the 2nd quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock worth $182,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.
A number of brokerages have recently weighed in on IP. ValuEngine lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up from $65.00) on shares of International Paper in a report on Friday, July 14th. Zacks Investment Research lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Vertical Research reiterated a “buy” rating on shares of International Paper in a report on Friday, July 28th. Finally, KeyCorp reiterated a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $60.07.
Shares of International Paper Company (IP) traded down 0.437% on Wednesday, reaching $55.775. 213,120 shares of the company’s stock were exchanged. International Paper Company has a one year low of $43.55 and a one year high of $58.95. The stock has a market cap of $23.03 billion, a price-to-earnings ratio of 28.327 and a beta of 1.46. The company’s 50 day moving average is $54.43 and its 200-day moving average is $53.70.
International Paper (NYSE:IP) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that International Paper Company will post $3.46 EPS for the current 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 of this dividend is Friday, August 11th. This represents a $1.85 annualized dividend and a dividend yield of 3.30%. International Paper’s dividend payout ratio (DPR) is 93.91%.
In other news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total transaction of $57,649.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by company insiders.
About International Paper
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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