Huntington National Bank Maintains Position in International Paper Co. (IP)
Huntington National Bank maintained its stake in shares of International Paper Co. (NYSE:IP) during the second quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Springbok Capital Management LLC raised its stake in shares of International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock valued at $171,000 after buying an additional 1,405 shares during the period. Bender Robert & Associates purchased a new stake in shares of International Paper during the second quarter valued at approximately $202,000. Ironwood Financial llc purchased a new stake in shares of International Paper during the first quarter valued at approximately $205,000. Trust Co purchased a new stake in shares of International Paper during the first quarter valued at approximately $205,000. Finally, Palladium Partners LLC purchased a new stake in shares of International Paper during the second quarter valued at approximately $205,000. 81.88% of the stock is currently owned by institutional investors and hedge funds.
International Paper Co. (NYSE:IP) traded down 1.98% during mid-day trading on Tuesday, hitting $48.02. The stock had a trading volume of 3,893,748 shares. The stock has a market cap of $19.75 billion, a PE ratio of 26.01 and a beta of 1.59. International Paper Co. has a one year low of $32.50 and a one year high of $49.90. The firm’s 50-day moving average is $47.60 and its 200 day moving average is $43.54.
International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The business earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The business’s revenue was down 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. Equities research analysts expect that International Paper Co. will post $3.49 EPS for the current year.
The firm also recently announced 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 payout ratio is 94.12%.
Several brokerages have recently commented on IP. Jefferies Group reissued a “hold” rating on shares of International Paper in a research note on Friday, August 5th. Credit Agricole SA lifted their price objective on International Paper from $45.00 to $53.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 6th. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, July 5th. Credit Suisse Group AG restated a “hold” rating and set a $47.00 price objective on shares of International Paper in a research report on Monday, August 1st. Finally, Vetr downgraded International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 price objective for the company. in a research report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.14.
In related news, insider Thomas G. Kadien sold 10,000 shares of the firm’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 can be accessed through this hyperlink. Also, CFO Carol L. Roberts sold 12,256 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was 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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