FUKOKU MUTUAL LIFE INSURANCE Co Has $221,000 Position in International Paper Company (IP)
FUKOKU MUTUAL LIFE INSURANCE Co maintained its position in shares of International Paper Company (NYSE:IP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,900 shares of the basic materials company’s stock at the end of the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in International Paper were worth $221,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in IP. FNY Partners Fund LP grew its holdings in shares of International Paper by 166.7% during the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,250 shares in the last quarter. Ffcm LLC increased its position 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 purchasing an additional 1,242 shares during the period. Asset Advisors Corp increased its position 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 valued at $136,000 after purchasing an additional 84 shares during the period. Parallel Advisors LLC increased its position 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 valued at $182,000 after purchasing an additional 680 shares during the period. Finally, Hefty Wealth Partners increased its position 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 valued at $182,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.
International Paper Company (NYSE IP) traded down 0.49% during mid-day trading on Tuesday, hitting $57.10. 357,804 shares of the stock traded hands. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95. The firm has a market cap of $23.58 billion, a P/E ratio of 29.00 and a beta of 1.46. The firm’s 50-day moving average price is $55.24 and its 200-day moving average price is $54.20.
International Paper (NYSE:IP) last announced 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 business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that International Paper Company will post $3.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Friday, August 11th. International Paper’s payout ratio is presently 93.91%.
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In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a filing with the SEC, which is available at this link. 0.63% of the stock is owned by corporate insiders.
IP has been the subject of a number of recent research reports. Zacks Investment Research upgraded International Paper from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price target on shares of International Paper in a research note on Monday, August 21st. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target on shares of International Paper in a research note on Friday, August 18th. BMO Capital Markets reissued a “buy” rating on shares of International Paper in a report on Thursday, August 17th. Finally, DA Davidson upgraded shares of 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 research note on Monday, August 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. International Paper presently has a consensus rating of “Hold” and a consensus target price 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.
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