International Paper Co. (IP) Shares Bought by Mount Vernon Associates Inc. MD
Mount Vernon Associates Inc. MD boosted its stake in shares of International Paper Co. (NYSE:IP) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,818 shares of the company’s stock after buying an additional 568 shares during the period. Mount Vernon Associates Inc. MD’s holdings in International Paper were worth $586,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of International Paper during the fourth quarter valued at approximately $139,488,000. BlackRock Fund Advisors increased its stake in shares of International Paper by 48.3% in the first quarter. BlackRock Fund Advisors now owns 10,300,909 shares of the company’s stock valued at $422,749,000 after buying an additional 3,356,879 shares during the last quarter. BlackRock Group LTD increased its stake in shares of International Paper by 42.8% in the first quarter. BlackRock Group LTD now owns 5,612,262 shares of the company’s stock valued at $230,327,000 after buying an additional 1,681,518 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of International Paper during the second quarter valued at approximately $70,056,000. Finally, Wellington Management Group LLP increased its stake in shares of International Paper by 2.7% in the first quarter. Wellington Management Group LLP now owns 26,110,129 shares of the company’s stock valued at $1,071,560,000 after buying an additional 685,795 shares during the last quarter. 81.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of International Paper Co. (NYSE:IP) traded down 0.41% on Monday, reaching $48.99. The company’s stock had a trading volume of 2,611,752 shares. The stock has a 50-day moving average of $47.52 and a 200 day moving average of $43.47. International Paper Co. has a 52 week low of $32.50 and a 52 week high of $49.90. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 26.54 and a beta of 1.59.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The firm earned $5.30 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, analysts expect that International Paper Co. will post $3.50 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 paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.76 annualized dividend and a yield of 3.59%. International Paper’s payout ratio is 94.12%.
Several equities research analysts recently commented on IP shares. Citigroup Inc. raised their target price on International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, August 31st. 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 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 on the stock in a report on Tuesday, July 5th. Deutsche Bank AG lifted their price objective on International Paper from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Finally, Jefferies Group restated a “hold” rating on shares of International Paper in a report on Monday, August 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. International Paper presently has an average 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 that occurred on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total value of $478,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Carol L. Roberts sold 12,256 shares of the company’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 value 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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