International Paper Company (IP) Stake Lowered by American Century Companies Inc.
American Century Companies Inc. cut its stake in International Paper Company (NYSE:IP) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,799 shares of the basic materials company’s stock after selling 1,234 shares during the quarter. American Century Companies Inc.’s holdings in International Paper were worth $1,291,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in IP. FNY Partners Fund LP increased its stake in shares of International Paper by 166.7% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 1,250 shares during the last quarter. Asset Advisors Corp increased its stake in shares of International Paper by 3.6% in the 2nd quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after acquiring an additional 84 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of International Paper by 24.8% in the 1st quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock valued at $182,000 after acquiring an additional 680 shares during the last quarter. Hefty Wealth Partners increased its stake in shares of International Paper by 1.7% in the 2nd quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock valued at $182,000 after acquiring an additional 55 shares during the last quarter. Finally, GWM Advisors LLC increased its stake in shares of International Paper by 5.4% in the 1st quarter. GWM Advisors LLC now owns 4,032 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 208 shares during the last quarter. 83.04% of the stock is owned by institutional investors.
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A number of analysts have recently commented on IP shares. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. ValuEngine cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. DA Davidson raised International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.75 to $62.00 in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 price target on shares of International Paper in a research note on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.07.
International Paper Company (NYSE IP) opened at 56.23 on Friday. The firm has a market cap of $23.22 billion, a P/E ratio of 28.56 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. The firm’s 50-day moving average price is $54.34 and its 200-day moving average price is $53.78.
International Paper (NYSE:IP) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Equities research analysts expect that International Paper Company will post $3.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were issued a $0.4625 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. International Paper’s payout ratio is currently 93.91%.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.63% 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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