CIBC World Markets Inc. decreased its holdings in shares of International Paper Company (NYSE:IP) by 37.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,362 shares of the basic materials company’s stock after selling 11,798 shares during the quarter. CIBC World Markets Inc.’s holdings in International Paper were worth $1,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Exencial Wealth Advisors LLC grew its holdings in shares of International Paper by 0.3% during the second quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock valued at $357,000 after buying an additional 16 shares in the last quarter. WESPAC Advisors LLC grew its holdings in shares of International Paper by 60.9% during the second quarter. WESPAC Advisors LLC now owns 39,376 shares of the basic materials company’s stock valued at $2,229,000 after buying an additional 14,898 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in shares of International Paper during the second quarter valued at $602,000. Sheaff Brock Investment Advisors LLC grew its holdings in shares of International Paper by 10.7% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 127,804 shares of the basic materials company’s stock valued at $7,235,000 after buying an additional 12,379 shares in the last quarter. Finally, 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 valued at $119,000 after buying an additional 1,242 shares in the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.

Shares of International Paper Company (IP) opened at 56.23 on Friday. The company’s 50-day moving average price is $54.34 and its 200-day moving average price is $53.78. The firm has a market cap of $23.22 billion, a PE ratio of 28.56 and a beta of 1.46. International Paper Company has a 52-week low of $43.55 and a 52-week high of $58.95.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 27.09% and a net margin of 3.73%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Equities analysts expect that International Paper Company will post $3.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Friday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 93.91%.

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In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on IP. BMO Capital Markets reiterated a “buy” rating on shares of International Paper in a report on Thursday, August 17th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target on shares of International Paper in a report on Friday, August 18th. Barclays PLC reiterated a “sell” rating and set a $50.00 price target on shares of International Paper in a report on Wednesday, August 2nd. KeyCorp reiterated a “hold” rating on shares of International Paper in a report on Thursday, June 29th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price target on shares of International Paper in a report on Monday, August 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $60.07.

International Paper 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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