Partnervest Advisory Services LLC Buys 501 Shares of International Paper Company (IP)
Partnervest Advisory Services LLC increased its stake in International Paper Company (NYSE:IP) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,186 shares of the basic materials company’s stock after buying an additional 501 shares during the period. Partnervest Advisory Services LLC’s holdings in International Paper were worth $577,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of International Paper by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 438,814 shares of the basic materials company’s stock valued at $22,282,000 after buying an additional 9,553 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of International Paper by 1,220.4% in the fourth quarter. Macquarie Group Ltd. now owns 136,003 shares of the basic materials company’s stock valued at $7,216,000 after buying an additional 125,703 shares during the last quarter. Sound Shore Management Inc. CT increased its stake in shares of International Paper by 16.5% in the first quarter. Sound Shore Management Inc. CT now owns 3,370,525 shares of the basic materials company’s stock valued at $171,155,000 after buying an additional 477,084 shares during the last quarter. Private Trust Co. NA increased its stake in shares of International Paper by 10.4% in the second quarter. Private Trust Co. NA now owns 5,245 shares of the basic materials company’s stock valued at $296,000 after buying an additional 492 shares during the last quarter. Finally, City Holding Co. increased its stake in shares of International Paper by 2.5% in the second quarter. City Holding Co. now owns 4,100 shares of the basic materials company’s stock valued at $232,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.
Shares of International Paper Company (IP) opened at 53.41 on Thursday. International Paper Company has a 1-year low of $43.55 and a 1-year high of $58.95. The firm has a market cap of $22.05 billion, a P/E ratio of 27.13 and a beta of 1.46. The firm has a 50 day moving average price of $56.23 and a 200 day moving average price of $53.70.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Analysts anticipate that International Paper Company will post $3.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.46%. International Paper’s dividend payout ratio (DPR) is presently 93.91%.
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Several brokerages recently commented on IP. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $64.00 in a research note on Thursday, July 13th. Royal Bank Of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $56.00 in a research note on Wednesday, April 19th. BidaskClub raised International Paper from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Vertical Research reaffirmed a “buy” rating on shares of International Paper in a research note on Friday, July 28th. Finally, Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, July 11th. Three equities 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 issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.89.
In other news, insider Gregory T. Wanta sold 1,044 shares of the stock in a transaction dated 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 legal filing with the SEC, which is accessible through the SEC website. 0.64% of the stock is owned by corporate insiders.
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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