King Luther Capital Management Corp lessened its stake in shares of International Paper Company (NYSE:IP) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,904 shares of the basic materials company’s stock after selling 778 shares during the period. King Luther Capital Management Corp’s holdings in International Paper were worth $3,448,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Exencial Wealth Advisors LLC increased its holdings in shares of International Paper by 0.3% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 16 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of International Paper by 0.3% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock worth $326,000 after purchasing an additional 20 shares in the last quarter. Vaughan David Investments Inc. IL increased its holdings in shares of International Paper by 0.5% in the 1st quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 21 shares in the last quarter. Mechanics Bank Trust Department increased its holdings in shares of International Paper by 0.6% in the 2nd quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock worth $253,000 after purchasing an additional 26 shares in the last quarter. Finally, Moloney Securities Asset Management LLC increased its holdings in shares of International Paper by 0.9% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 44 shares in the last quarter. 83.04% of the stock is owned by institutional investors.

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A number of equities analysts have recently issued reports on the company. BidaskClub upgraded International Paper from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. DA Davidson upgraded International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.75 to $62.00 in a research note on Monday, August 14th. Jefferies Group LLC restated a “buy” rating and issued a $66.00 price target (up from $65.00) on shares of International Paper in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $60.00 to $64.00 in a research note on Thursday, July 13th. Finally, Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. International Paper currently has a consensus rating of “Hold” and a consensus target price of $60.07.

Shares of International Paper Company (IP) opened at 56.23 on Friday. International Paper Company has a one year low of $43.55 and a one year high of $58.95. The stock has a 50 day moving average price of $54.34 and a 200 day moving average price of $53.78. The company has a market capitalization of $23.22 billion, a PE ratio of 28.56 and a beta of 1.46.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. On average, equities research analysts predict that International Paper Company will post $3.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Friday, August 11th. International Paper’s dividend payout ratio is presently 93.91%.

In related news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction dated 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 SEC, which is available through this link. Company 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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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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