Investors sold shares of International Paper Company (NYSE:IP) on strength during trading hours on Tuesday. $14.95 million flowed into the stock on the tick-up and $43.38 million flowed out of the stock on the tick-down, for a money net flow of $28.43 million out of the stock. Of all companies tracked, International Paper had the 0th highest net out-flow for the day. International Paper traded up $0.35 for the day and closed at $55.33
Several brokerages have commented on IP. KeyCorp reiterated a “hold” rating on shares of International Paper in a report on Thursday, July 27th. ValuEngine downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target (up previously from $63.00) on shares of International Paper in a research note on Saturday, April 29th. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $53.75 to $62.00 in a research note on Monday, August 14th. Three 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 issued a strong buy rating to the company. International Paper presently has an average rating of “Hold” and a consensus price target of $58.14.
The firm has a market cap of $22.42 billion, a price-to-earnings ratio of 27.57 and a beta of 1.46. The company has a 50 day moving average price of $55.67 and a 200 day moving average price of $53.56.
International Paper (NYSE:IP) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the business posted $0.92 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that International Paper Company will post $3.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a yield of 3.41%. International Paper’s dividend payout ratio is presently 93.91%.
In related news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.64% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in IP. BlackRock Inc. raised its position in 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 valued at $1,888,138,000 after buying an additional 36,119,474 shares in the last quarter. Wellington Management Group LLP raised its stake in 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 valued at $1,845,965,000 after buying an additional 8,273,552 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $324,455,000 after buying an additional 2,466,074 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in International Paper by 149.4% in the first quarter. Iridian Asset Management LLC CT now owns 3,745,820 shares of the basic materials company’s stock valued at $190,213,000 after buying an additional 2,243,965 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in International Paper by 64.2% in the first quarter. Ameriprise Financial Inc. now owns 5,369,840 shares of the basic materials company’s stock valued at $271,771,000 after buying an additional 2,098,824 shares during the period. 83.68% of the stock is currently owned by institutional investors and hedge funds.
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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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