Virtu KCG Holdings LLC lowered its holdings in International Paper Company (NYSE:IP) by 83.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,275 shares of the basic materials company’s stock after selling 31,765 shares during the period. Virtu KCG Holdings LLC’s holdings in International Paper were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IP. 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 purchasing an additional 1,250 shares during the period. Ffcm LLC increased its stake in shares of International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 1,242 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 purchasing an additional 84 shares during the period. 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 purchasing an additional 680 shares during the period. Finally, 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 purchasing an additional 55 shares during the period. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Gregory T. Wanta sold 1,044 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

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International Paper Company (NYSE IP) opened at 57.72 on Tuesday. International Paper Company has a 1-year low of $43.55 and a 1-year high of $58.95. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 29.31 and a beta of 1.46. The company’s 50 day moving average is $56.23 and its 200-day moving average is $54.61.

International Paper (NYSE:IP) last posted its quarterly 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 net margin of 3.73% and a return on equity of 27.09%. International Paper’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, analysts predict that International Paper Company will post $3.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, November 14th. International Paper’s payout ratio is 93.91%.

Several equities research analysts have commented on IP shares. KeyCorp restated a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. ValuEngine lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised 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 restated a “buy” rating and issued a $65.00 price target on shares of International Paper in a research note on Monday, August 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus price target of $60.27.

International Paper 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.

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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