CHURCHILL MANAGEMENT Corp boosted its stake in International Paper Company (NYSE:IP) by 112.3% during the second quarter, Holdings Channel reports. The institutional investor owned 412,602 shares of the basic materials company’s stock after buying an additional 218,222 shares during the period. International Paper comprises approximately 0.6% of CHURCHILL MANAGEMENT Corp’s investment portfolio, making the stock its 25th largest position. CHURCHILL MANAGEMENT Corp’s holdings in International Paper were worth $23,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of International Paper by 3,397.1% in the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock valued at $1,888,138,000 after buying an additional 36,119,474 shares in the last quarter. Wellington Management Group LLP increased its position in shares of International Paper by 29.5% in the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock valued at $1,845,965,000 after buying an additional 8,273,552 shares in the last quarter. Vanguard Group Inc. increased its position in shares of International Paper by 2.5% in the first quarter. Vanguard Group Inc. now owns 28,881,442 shares of the basic materials company’s stock valued at $1,466,599,000 after buying an additional 694,637 shares in the last quarter. Bank of New York Mellon Corp increased its position in International Paper by 62.9% in the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock valued at $324,455,000 after buying an additional 2,466,074 shares during the period. Finally, Clearbridge Investments LLC increased its position in International Paper by 3.8% in the first quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock valued at $323,574,000 after buying an additional 230,750 shares during the period. 83.10% of the stock is owned by institutional investors.

Shares of International Paper Company (NYSE IP) opened at 57.63 on Wednesday. International Paper Company has a 52-week low of $43.55 and a 52-week high of $58.95. The company has a 50-day moving average of $55.95 and a 200-day moving average of $53.47. The stock has a market capitalization of $23.80 billion, a price-to-earnings ratio of 30.80 and a beta of 1.48.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 27th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.44 billion. International Paper had a net margin of 3.63% and a return on equity of 30.44%. International Paper’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. Equities research analysts anticipate that International Paper Company will post $3.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, August 11th. International Paper’s payout ratio is currently 98.40%.

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Several research firms have commented on IP. Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $60.00 to $64.00 in a report on Thursday, July 13th. Royal Bank Of Canada raised shares of International Paper from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $56.00 in a report on Wednesday, April 19th. BidaskClub raised shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $66.00 price objective (up previously from $65.00) on shares of International Paper in a report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $56.90.

About International Paper

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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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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