Brandywine Global Investment Management LLC increased its holdings in International Paper Company (NYSE:IP) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 526,610 shares of the basic materials company’s stock after acquiring an additional 3,879 shares during the period. Brandywine Global Investment Management LLC owned about 0.13% of International Paper worth $29,812,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Zacks Investment Management grew its holdings in shares of International Paper by 2.0% in the second quarter. Zacks Investment Management now owns 395,025 shares of the basic materials company’s stock valued at $22,362,000 after acquiring an additional 7,817 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of International Paper by 2.4% in the second quarter. Voya Investment Management LLC now owns 319,229 shares of the basic materials company’s stock valued at $18,071,000 after acquiring an additional 7,400 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of International Paper by 38.3% in the second quarter. Ontario Teachers Pension Plan Board now owns 100,743 shares of the basic materials company’s stock valued at $5,703,000 after acquiring an additional 27,920 shares in the last quarter. Veritable L.P. grew its holdings in shares of International Paper by 0.4% in the second quarter. Veritable L.P. now owns 14,704 shares of the basic materials company’s stock valued at $832,000 after acquiring an additional 58 shares in the last quarter. Finally, Evercore Wealth Management LLC grew its holdings in shares of International Paper by 698.6% in the second quarter. Evercore Wealth Management LLC now owns 11,851 shares of the basic materials company’s stock valued at $671,000 after acquiring an additional 10,367 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Several equities analysts have weighed in on the company. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $53.75 to $62.00 in a report on Monday, August 14th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price objective (up from $65.00) on shares of International Paper in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $60.00 to $64.00 in a report on Thursday, July 13th. Finally, Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. International Paper presently has a consensus rating of “Hold” and an average price target of $60.07.

International Paper Company (NYSE IP) traded up 0.28% during trading on Thursday, hitting $56.81. The stock had a trading volume of 350,348 shares. International Paper Company has a 52-week low of $43.55 and a 52-week high of $58.95. The company has a market cap of $23.46 billion, a price-to-earnings ratio of 28.85 and a beta of 1.46. The company has a 50-day moving average price of $54.48 and a 200-day moving average price of $53.84.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts forecast that International Paper Company will post $3.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, August 11th. International Paper’s payout ratio is 93.91%.

In other news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

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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.

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

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