International Paper Company (IP) Stake Lowered by CCM Investment Advisers LLC
CCM Investment Advisers LLC decreased its position in International Paper Company (NYSE:IP) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,862 shares of the basic materials company’s stock after selling 9,342 shares during the period. CCM Investment Advisers LLC’s holdings in International Paper were worth $7,917,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of IP. Macquarie Group Ltd. raised its position in 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 worth $7,216,000 after buying an additional 125,703 shares during the last quarter. Gulf International Bank UK Ltd raised its position in International Paper by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 124,622 shares of the basic materials company’s stock worth $6,328,000 after buying an additional 1,500 shares during the last quarter. National Pension Service raised its position in International Paper by 3.1% in the first quarter. National Pension Service now owns 362,663 shares of the basic materials company’s stock worth $18,547,000 after buying an additional 10,892 shares during the last quarter. Visionary Asset Management Inc. raised its position in International Paper by 1.1% in the first quarter. Visionary Asset Management Inc. now owns 68,892 shares of the basic materials company’s stock worth $3,498,000 after buying an additional 768 shares during the last quarter. Finally, Atria Investments LLC raised its position in International Paper by 45.0% in the first quarter. Atria Investments LLC now owns 46,356 shares of the basic materials company’s stock worth $2,354,000 after buying an additional 14,389 shares during the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.
International Paper Company (IP) opened at 52.59 on Friday. The firm has a 50-day moving average price of $56.00 and a 200-day moving average price of $53.67. International Paper Company has a one year low of $43.55 and a one year high of $58.95. The firm has a market capitalization of $21.72 billion, a price-to-earnings ratio of 26.71 and a beta of 1.46.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Analysts expect that International Paper Company will post $3.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Friday, August 11th. International Paper’s dividend payout ratio (DPR) is presently 93.91%.
A number of research analysts recently weighed in on IP shares. Royal Bank Of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $56.00 in a report on Wednesday, April 19th. Citigroup Inc. reissued a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Deutsche Bank AG boosted their target price on International Paper from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 target price (up from $63.00) on shares of International Paper in a report on Saturday, April 29th. Finally, Barclays PLC boosted their target price on International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, May 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $57.89.
In other news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by insiders.
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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