Huntington National Bank held its stake in shares of International Paper Co. (NYSE:IP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,720 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in International Paper were worth $6,477,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mount Vernon Associates Inc. MD boosted its stake in shares of International Paper by 4.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 13,818 shares of the company’s stock worth $586,000 after buying an additional 568 shares during the last quarter. Albion Financial Group UT boosted its stake in shares of International Paper by 14.5% in the second quarter. Albion Financial Group UT now owns 41,865 shares of the company’s stock worth $1,774,000 after buying an additional 5,310 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of International Paper during the second quarter worth $70,056,000. MSI Financial Services Inc boosted its stake in shares of International Paper by 41.0% in the second quarter. MSI Financial Services Inc now owns 54,057 shares of the company’s stock worth $2,291,000 after buying an additional 15,716 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in shares of International Paper by 54.0% in the second quarter. Shell Asset Management Co. now owns 31,676 shares of the company’s stock worth $1,342,000 after buying an additional 11,103 shares during the last quarter. Hedge funds and other institutional investors own 81.88% of the company’s stock.

Shares of International Paper Co. (NYSE:IP) traded down 1.98% on Tuesday, reaching $48.02. 3,893,748 shares of the company traded hands. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 26.01 and a beta of 1.59. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90. The stock has a 50 day moving average of $47.60 and a 200 day moving average of $43.54.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The business earned $5.30 billion during 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%. International Paper’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. On average, analysts expect that International Paper Co. will post $3.49 earnings per share for the current year.

The company 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 brokerages recently weighed in on IP. Credit Agricole SA raised their target price on shares of International Paper from $45.00 to $53.00 and gave the stock an “underperform” rating in a report on Tuesday, September 6th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $42.00 price objective on shares of International Paper in a research note on Wednesday, August 31st. Citigroup Inc. raised their price objective on shares of International Paper from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 31st. Jefferies Group reaffirmed a “hold” rating on shares of International Paper in a research note on Monday, August 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.00 price objective on shares of International Paper in a research note on Saturday, August 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.14.

In related news, insider Thomas G. Kadien sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $47.86, for a total transaction of $478,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Carol L. Roberts sold 12,256 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. 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.

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