Ingalls & Snyder LLC Sells 1,287 Shares of International Paper Company (NYSE:IP)
Ingalls & Snyder LLC decreased its position in shares of International Paper Company (NYSE:IP) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,195 shares of the basic materials company’s stock after selling 1,287 shares during the period. Ingalls & Snyder LLC’s holdings in International Paper were worth $3,577,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FNY Partners Fund LP boosted its position in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,250 shares during the period. Asset Advisors Corp boosted its position in shares of International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after buying an additional 84 shares during the period. Hefty Wealth Partners boosted 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 valued at $182,000 after buying an additional 55 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in shares of International Paper during the first quarter valued at about $172,000. Finally, Parallel Advisors LLC boosted its position in shares of International Paper by 24.8% in the first quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock valued at $182,000 after buying an additional 680 shares during the period. 83.09% of the stock is owned by institutional investors.
Shares of International Paper Company (IP) opened at 53.93 on Friday. The stock has a 50 day moving average of $56.62 and a 200-day moving average of $53.67. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 27.39 and a beta of 1.46. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the firm posted $0.92 EPS. International Paper’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that International Paper Company will post $3.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, August 11th. International Paper’s dividend payout ratio is presently 93.91%.
Several research analysts have issued reports on the stock. ValuEngine cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Zacks Investment Research cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 target price (up from $65.00) on shares of International Paper in a report on Friday, July 14th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Finally, Vertical Research reaffirmed a “buy” rating on shares of International Paper in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. International Paper has an average rating of “Hold” and a consensus price target of $57.89.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total transaction of $57,649.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.64% of the company’s stock.
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.
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