Coldstream Capital Management Inc. Purchases 1,792 Shares of International Paper Company (IP)
Coldstream Capital Management Inc. boosted its position in International Paper Company (NYSE:IP) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,437 shares of the basic materials company’s stock after purchasing an additional 1,792 shares during the period. Coldstream Capital Management Inc.’s holdings in International Paper were worth $2,572,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of IP. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of International Paper in the second quarter valued at about $424,000. IHT Wealth Management LLC increased its stake in shares of International Paper by 26.8% in the second quarter. IHT Wealth Management LLC now owns 1,310 shares of the basic materials company’s stock valued at $650,000 after buying an additional 277 shares during the period. FNY Partners Fund LP increased its stake in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,250 shares during the period. Ffcm LLC increased its stake in shares of International Paper by 148.0% in 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 during the period. Finally, Asset Advisors Corp increased its stake in shares of International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after buying an additional 84 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on IP. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 price target on shares of International Paper in a research note on Monday, August 21st. Jefferies Group LLC reissued a “buy” rating and issued 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 research note on Thursday, August 17th. Finally, DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and increased their price target for the company from $53.75 to $62.00 in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. International Paper presently has an average rating of “Hold” and a consensus target price of $60.07.
International Paper Company (NYSE IP) traded down 0.77% during midday trading on Monday, reaching $57.01. The company had a trading volume of 398,390 shares. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 28.95 and a beta of 1.46. International Paper Company has a one year low of $43.55 and a one year high of $58.95. The company has a 50-day moving average price of $55.67 and a 200-day moving average price of $54.33.
International Paper (NYSE:IP) last announced its quarterly earnings results 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 return on equity of 27.09% and a net margin of 3.73%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the business earned $0.92 EPS. International Paper’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that International Paper Company will post $3.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a yield of 3.22%. International Paper’s dividend payout ratio is presently 93.91%.
In related news, insider Gregory T. Wanta sold 1,044 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 0.63% of the stock is owned by insiders.
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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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