Deprince Race & Zollo Inc. Sells 19,846 Shares of International Paper Co. (IP)
Deprince Race & Zollo Inc. cut its stake in International Paper Co. (NYSE:IP) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 752,080 shares of the company’s stock after selling 19,846 shares during the period. Deprince Race & Zollo Inc.’s holdings in International Paper were worth $31,873,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Peapack Gladstone Financial Corp increased its position in International Paper by 3.0% in the first quarter. Peapack Gladstone Financial Corp now owns 212,094 shares of the company’s stock worth $8,704,000 after buying an additional 6,262 shares in the last quarter. Sentry Investment Management LLC increased its position in International Paper by 3.3% in the first quarter. Sentry Investment Management LLC now owns 32,379 shares of the company’s stock worth $1,329,000 after buying an additional 1,028 shares in the last quarter. BlackRock Fund Advisors increased its position in International Paper by 48.3% in the first quarter. BlackRock Fund Advisors now owns 10,300,909 shares of the company’s stock worth $422,749,000 after buying an additional 3,356,879 shares in the last quarter. BlackRock Group LTD increased its position in International Paper by 42.8% in the first quarter. BlackRock Group LTD now owns 5,612,262 shares of the company’s stock worth $230,327,000 after buying an additional 1,681,518 shares in the last quarter. Finally, BlackRock Inc. increased its position in International Paper by 5.4% in the first quarter. BlackRock Inc. now owns 1,292,898 shares of the company’s stock worth $53,061,000 after buying an additional 65,802 shares in the last quarter. 81.73% of the stock is owned by institutional investors.
Shares of International Paper Co. (NYSE:IP) traded down 0.38% during trading on Monday, reaching $47.80. The company’s stock had a trading volume of 2,346,006 shares. The company’s 50-day moving average is $48.05 and its 200-day moving average is $44.03. International Paper Co. has a 12 month low of $32.50 and a 12 month high of $49.90. The company has a market capitalization of $19.66 billion, a P/E ratio of 25.89 and a beta of 1.55.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. On average, analysts forecast that International Paper Co. will post $3.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Thursday, August 11th. International Paper’s dividend payout ratio (DPR) is currently 94.12%.
A number of research analysts have commented on the company. Vetr downgraded International Paper from a “strong-buy” rating to a “buy” rating and set a $46.00 target price on the stock. in a report on Wednesday, June 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $42.00 target price on shares of International Paper in a report on Friday, July 29th. Goldman Sachs Group Inc. assumed coverage on International Paper in a report on Thursday, September 22nd. They set a “neutral” rating and a $49.00 target price on the stock. Citigroup Inc. increased their target price on International Paper from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $47.00 target price on shares of International Paper in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $47.71.
In other news, insider William P. Hoel sold 20,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas G. Kadien sold 10,000 shares of International Paper stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.
About International Paper
International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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