Atalanta Sosnoff Capital LLC cut its position in shares of International Paper Co. (NYSE:IP) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 89,643 shares of the company’s stock after selling 1,397 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in International Paper were worth $3,799,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IP. Bollard Group LLC raised its stake in International Paper by 1.0% in the second quarter. Bollard Group LLC now owns 9,602 shares of the company’s stock worth $407,000 after buying an additional 99 shares in the last quarter. Leavell Investment Management Inc. raised its stake in International Paper by 2.1% in the second quarter. Leavell Investment Management Inc. now owns 7,374 shares of the company’s stock worth $313,000 after buying an additional 150 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in International Paper by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 50,710 shares of the company’s stock worth $1,912,000 after buying an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in International Paper by 0.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 32,051 shares of the company’s stock worth $1,315,000 after buying an additional 208 shares in the last quarter. Finally, Park National Corp OH raised its stake in International Paper by 4.5% in the second quarter. Park National Corp OH now owns 5,780 shares of the company’s stock worth $245,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 81.88% of the company’s stock.

International Paper Co. (NYSE:IP) traded down 1.98% during midday trading on Tuesday, reaching $48.02. 3,893,748 shares of the company’s stock traded hands. International Paper Co. has a 1-year low of $32.50 and a 1-year high of $49.90. The company has a market capitalization of $19.75 billion, a PE ratio of 26.01 and a beta of 1.59. The firm’s 50 day moving average price is $47.60 and its 200-day moving average price is $43.54.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The firm’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Equities analysts expect that International Paper Co. will post $3.49 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, August 11th. International Paper’s dividend payout ratio is currently 94.12%.

A number of analysts have weighed in on the company. Jefferies Group upped their target price on International Paper from $47.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Royal Bank Of Canada restated a “sector perform” rating and set a $42.00 target price on shares of International Paper in a report on Friday, July 29th. Deutsche Bank AG restated a “hold” rating and set a $42.00 target price on shares of International Paper in a report on Wednesday, August 31st. Vetr lowered International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 target price for the company. in a report on Monday, June 20th. Finally, Citigroup Inc. upped their target price on International Paper from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.14.

In other International Paper news, insider Thomas G. Kadien sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $47.86, for a total value of $478,600.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William P. Hoel sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

International Paper Company Profile

International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.

5 Day Chart for NYSE:IP

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