HL Financial Services LLC reduced its position in International Paper Company (NYSE:IP) by 64.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,942 shares of the basic materials company’s stock after selling 28,770 shares during the period. HL Financial Services LLC’s holdings in International Paper were worth $902,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of International Paper by 3,397.1% in the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock worth $1,888,138,000 after buying an additional 36,119,474 shares during the period. Wellington Management Group LLP raised its stake in shares of International Paper by 29.5% in the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after buying an additional 8,273,552 shares during the period. Vanguard Group Inc. raised its stake in shares of International Paper by 2.5% in the first quarter. Vanguard Group Inc. now owns 28,881,442 shares of the basic materials company’s stock worth $1,466,599,000 after buying an additional 694,637 shares during the period. Bank of New York Mellon Corp raised its stake in shares of International Paper by 62.9% in the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock worth $324,455,000 after buying an additional 2,466,074 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of International Paper by 3.8% in the first quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock worth $323,574,000 after buying an additional 230,750 shares during the period. 83.04% of the stock is currently owned by institutional investors and hedge funds.

International Paper Company (NYSE IP) opened at 52.59 on Friday. The company’s 50-day moving average is $56.00 and its 200-day moving average is $53.67. The stock 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 12 month low of $43.55 and a 12 month high of $58.95.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. Equities research analysts forecast 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. Investors 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 of this dividend is Friday, August 11th. International Paper’s payout ratio is currently 93.91%.

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A number of equities research analysts have issued reports on IP shares. KeyCorp reissued a “hold” rating on shares of International Paper in a report on Thursday, July 27th. ValuEngine lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 price target (up previously from $63.00) on shares of International Paper in a report on Saturday, April 29th. Zacks Investment Research raised shares of International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $57.89.

In related news, insider Gregory T. Wanta sold 1,044 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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