Marietta Wealth Management LLC lifted its stake in International Paper Co (NYSE:IP) by 21.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,905 shares of the basic materials company’s stock after purchasing an additional 1,409 shares during the period. Marietta Wealth Management LLC’s holdings in International Paper were worth $412,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Oak Wealth Management Inc. lifted its position in shares of International Paper by 119.5% during the first quarter. Northern Oak Wealth Management Inc. now owns 146,581 shares of the basic materials company’s stock valued at $7,832,000 after buying an additional 79,797 shares during the last quarter. Access Financial Services Inc. purchased a new stake in shares of International Paper during the second quarter valued at about $1,279,000. Schwab Charles Investment Management Inc. lifted its position in shares of International Paper by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,715,616 shares of the basic materials company’s stock valued at $141,430,000 after buying an additional 73,282 shares during the last quarter. Clinton Group Inc. purchased a new stake in shares of International Paper during the first quarter valued at about $1,279,000. Finally, Weatherly Asset Management L. P. purchased a new stake in shares of International Paper during the second quarter valued at about $1,142,000. Hedge funds and other institutional investors own 82.20% of the company’s stock.
Shares of NYSE IP traded up $0.19 during midday trading on Monday, reaching $51.90. 2,322,100 shares of the stock were exchanged, compared to its average volume of 2,687,102. The stock has a market capitalization of $21.14 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.04 and a beta of 1.50. International Paper Co has a twelve month low of $50.00 and a twelve month high of $66.94. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.57 and a quick ratio of 1.13.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.10. The business had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.80 billion. International Paper had a net margin of 12.95% and a return on equity of 29.24%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. analysts anticipate that International Paper Co will post 5.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Wednesday, August 15th will be paid a dividend of $0.475 per share. The ex-dividend date is Tuesday, August 14th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.66%. International Paper’s payout ratio is 54.44%.
IP has been the subject of several research analyst reports. Wells Fargo & Co raised shares of International Paper from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $66.94 in a research report on Friday, June 1st. MED reduced their price target on shares of International Paper from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Monday, June 18th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Wednesday, August 1st. Royal Bank of Canada raised shares of International Paper from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $65.69 to $67.00 in a research report on Wednesday, June 6th. Finally, ValuEngine raised shares of International Paper from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $64.38.
In related news, insider W. Michael Jr. Amick sold 10,930 shares of International Paper stock in a transaction on Monday, June 18th. The shares were sold at an average price of $55.86, for a total value of $610,549.80. Following the sale, the insider now owns 29,844 shares of the company’s stock, valued at approximately $1,667,085.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy S. Nicholls sold 17,000 shares of International Paper stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total transaction of $893,010.00. Following the completion of the sale, the insider now directly owns 108,538 shares in the company, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. Insiders have sold a total of 64,930 shares of company stock worth $3,545,990 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.
About International Paper
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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