Mount Vernon Associates Inc. MD cut its stake in International Paper Company (NYSE:IP) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,418 shares of the basic materials company’s stock after selling 200 shares during the period. Mount Vernon Associates Inc. MD’s holdings in International Paper were worth $760,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IP. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of International Paper by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock valued at $326,000 after buying an additional 20 shares during the period. Vaughan David Investments Inc. IL increased its position in shares of International Paper by 0.5% in the first quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock worth $216,000 after buying an additional 21 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of International Paper by 0.8% in the first quarter. Checchi Capital Advisers LLC now owns 4,670 shares of the basic materials company’s stock worth $237,000 after buying an additional 37 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its position in shares of International Paper by 0.9% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 5,859 shares of the basic materials company’s stock worth $298,000 after buying an additional 50 shares in the last quarter. Finally, Hefty Wealth Partners increased its position in shares of International Paper by 1.7% in the second quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock worth $182,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

International Paper Company (NYSE IP) traded down 0.18% during midday trading on Monday, reaching $56.54. 130,115 shares of the company were exchanged. The company has a market capitalization of $23.35 billion, a PE ratio of 30.22 and a beta of 1.48. The firm has a 50-day moving average price of $56.19 and a 200-day moving average price of $53.53. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.44 billion. International Paper had a net margin of 3.63% and a return on equity of 30.44%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. Equities research analysts anticipate that International Paper Company will post $3.60 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a yield of 3.27%. International Paper’s dividend payout ratio is currently 98.40%.

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IP has been the subject of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 target price (up previously from $63.00) on shares of International Paper in a research note on Saturday, April 29th. Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their target price for the company from $60.00 to $64.00 in a research note on Thursday, July 13th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, July 11th. BidaskClub raised shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, KeyCorp reissued a “hold” rating on shares of International Paper in a research report on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. International Paper currently has a consensus rating of “Hold” and a consensus target price of $56.90.

International Paper Company Profile

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.

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

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