Crescent Grove Advisors LLC Buys Shares of 7,500 International Paper Company (IP)
Crescent Grove Advisors LLC bought a new stake in shares of International Paper Company (NYSE:IP) during the second quarter, Holdings Channel reports. The institutional investor bought 7,500 shares of the basic materials company’s stock, valued at approximately $425,000.
Other large investors have also recently modified their holdings of the company. FNY Partners Fund LP increased its stake 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 increased its stake 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 increased its stake 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 stake in shares of International Paper during the first quarter valued at about $172,000. Finally, Parallel Advisors LLC increased its stake 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. Institutional investors and hedge funds own 83.04% of the company’s stock.
International Paper Company (NYSE IP) opened at 52.59 on Friday. The stock’s 50 day moving average is $56.00 and its 200 day moving average is $53.67. The company has a market capitalization of $21.72 billion, a PE ratio of 26.71 and a beta of 1.46. International Paper Company has a one year low of $43.55 and a one year high of $58.95.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating 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%. International Paper’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. On average, analysts anticipate that International Paper Company will post $3.47 earnings per share for the current fiscal year.
The firm 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 dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, August 11th. International Paper’s payout ratio is currently 93.91%.
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IP has been the topic of several research analyst reports. Barclays PLC reissued a “sell” rating and issued a $50.00 price target on shares of International Paper in a report on Wednesday, August 2nd. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Thursday, June 29th. Vertical Research reissued a “buy” rating on shares of International Paper in a report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price target (up from $65.00) on shares of International Paper in a report on Friday, July 14th. Finally, ValuEngine cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. International Paper has a consensus rating of “Hold” and an average price target of $57.89.
In related news, insider Gregory T. Wanta sold 1,044 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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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