International Paper Co. (IP) Stake Maintained by Whittier Trust Co.
Whittier Trust Co. held its stake in International Paper Co. (NYSE:IP) during the second quarter, Holdings Channel reports. The firm owned 8,483 shares of the company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in International Paper were worth $360,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of International Paper by 2.7% in the first quarter. Wellington Management Group LLP now owns 26,110,129 shares of the company’s stock worth $1,071,560,000 after buying an additional 685,795 shares during the period. Sasco Capital Inc. CT boosted its stake in shares of 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 during the period. Geode Capital Management LLC boosted its stake in shares of International Paper by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,272,491 shares of the company’s stock worth $134,028,000 after buying an additional 42,981 shares during the period. Nordea Investment Management AB boosted its stake in shares of International Paper by 1.5% in the second quarter. Nordea Investment Management AB now owns 2,520,213 shares of the company’s stock worth $106,807,000 after buying an additional 37,662 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of International Paper by 2.9% in the first quarter. Legal & General Group Plc now owns 1,974,481 shares of the company’s stock worth $81,027,000 after buying an additional 55,797 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
International Paper Co. (NYSE:IP) traded down 1.12% on Thursday, reaching $45.87. The company’s stock had a trading volume of 1,784,437 shares. The stock has a 50 day moving average price of $47.98 and a 200-day moving average price of $44.32. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 24.85 and a beta of 1.55. International Paper Co. has a 1-year low of $32.50 and a 1-year high of $49.90.
International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company posted $0.97 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities analysts predict that International Paper Co. will post $3.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.99%. This is a boost from International Paper’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, November 10th. International Paper’s payout ratio is presently 94.12%.
A number of equities research analysts have commented on the company. Jefferies Group increased their target price on International Paper from $47.00 to $49.00 and gave the company a “hold” rating in a report on Friday, July 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $42.00 target price on shares of International Paper in a report on Friday, July 29th. Deutsche Bank AG reiterated a “hold” rating and set a $42.00 target price on shares of International Paper in a report on Wednesday, August 31st. BMO Capital Markets restated a “market perform” rating and set a $47.00 price objective on shares of International Paper in a report on Saturday, August 13th. Finally, Vetr cut International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 price objective on the stock. in a report on Monday, June 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.71.
In other International Paper news, CFO Carol L. Roberts sold 12,256 shares of International Paper stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William P. Hoel sold 20,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $48.12, for a total transaction of $962,400.00. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
International Paper Company Profile
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.
Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Co. (NYSE:IP).
Receive News & Ratings for International Paper Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper Co. and related companies with MarketBeat.com's FREE daily email newsletter.