LS Investment Advisors LLC Has $868,000 Position in International Paper Co. (IP)
LS Investment Advisors LLC boosted its position in shares of International Paper Co. (NYSE:IP) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,471 shares of the company’s stock after buying an additional 1,107 shares during the period. LS Investment Advisors LLC’s holdings in International Paper were worth $868,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Pacific Global Investment Management CO increased its position in International Paper by 9.1% in the first quarter. Pacific Global Investment Management CO now owns 9,672 shares of the company’s stock worth $397,000 after buying an additional 806 shares in the last quarter. Scotia Capital Inc. bought a new position in International Paper during the first quarter worth $287,000. Sasco Capital Inc. CT increased its position in International Paper by 4.9% in the first quarter. Sasco Capital Inc. CT now owns 3,626,867 shares of the company’s stock worth $148,847,000 after buying an additional 169,756 shares in the last quarter. BB&T Securities LLC increased its position in International Paper by 2.7% in the first quarter. BB&T Securities LLC now owns 23,074 shares of the company’s stock worth $946,000 after buying an additional 616 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in International Paper by 17.9% in the first quarter. Canada Pension Plan Investment Board now owns 703,064 shares of the company’s stock worth $28,854,000 after buying an additional 106,907 shares in the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of International Paper Co. (NYSE:IP) traded up 1.47% during trading on Wednesday, reaching $46.39. The company’s stock had a trading volume of 3,471,570 shares. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90. The stock has a 50-day moving average of $48.00 and a 200-day moving average of $44.31. The stock has a market cap of $19.08 billion, a P/E ratio of 25.13 and a beta of 1.55.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was down 6.9% compared to the same quarter last year. Analysts predict that International Paper Co. will post $3.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, November 10th. This is an increase from International Paper’s previous quarterly dividend of $0.44. International Paper’s dividend payout ratio (DPR) is 94.12%.
A number of research firms have weighed in on IP. Credit Agricole SA raised their price target on International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a research note on Tuesday, September 6th. Citigroup Inc. raised their price target on International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, August 31st. Deutsche Bank AG restated a “hold” rating and issued a $42.00 price target on shares of International Paper in a research note on Wednesday, August 31st. Goldman Sachs Group Inc. began coverage on International Paper in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $49.00 price target for the company. Finally, Zacks Investment Research upgraded International Paper from a “hold” rating to a “strong-buy” rating and set a $55.00 price target for the company in a research note on Monday, October 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. International Paper presently has a consensus rating of “Hold” and a consensus target price of $47.71.
In other International Paper news, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William P. Hoel sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate 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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