Bp Plc Has $2,944,000 Position in International Paper Company (IP)
Bp Plc continued to hold its stake in shares of International Paper Company (NYSE:IP) during the second quarter, Holdings Channel reports. The firm owned 52,000 shares of the basic materials company’s stock at the end of the second quarter. Bp Plc’s holdings in International Paper were worth $2,944,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Financial Advisory Service Inc. boosted its stake in shares of International Paper by 0.7% in the second quarter. Financial Advisory Service Inc. now owns 12,769 shares of the basic materials company’s stock valued at $723,000 after buying an additional 83 shares during the period. Advisor Partners LLC raised its stake in shares of International Paper by 10.6% in the second quarter. Advisor Partners LLC now owns 9,018 shares of the basic materials company’s stock valued at $511,000 after buying an additional 866 shares in the last quarter. Palladium Partners LLC raised its stake in shares of International Paper by 7.4% in the second quarter. Palladium Partners LLC now owns 5,376 shares of the basic materials company’s stock valued at $305,000 after buying an additional 370 shares in the last quarter. Bowen Hanes & Co. Inc. raised its stake in shares of International Paper by 1.9% in the second quarter. Bowen Hanes & Co. Inc. now owns 536,475 shares of the basic materials company’s stock valued at $30,370,000 after buying an additional 9,765 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of International Paper by 14.2% in the second quarter. Retirement Systems of Alabama now owns 755,569 shares of the basic materials company’s stock valued at $42,773,000 after buying an additional 93,663 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.
International Paper Company (IP) opened at 53.41 on Thursday. The stock has a market cap of $22.49 billion, a price-to-earnings ratio of 27.13 and a beta of 1.46. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95. The company has a 50-day moving average price of $56.23 and a 200-day moving average price of $53.70.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. International Paper’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts anticipate that International Paper Company will post $3.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.85 annualized dividend and a yield of 3.46%. International Paper’s dividend payout ratio is presently 93.91%.
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Several analysts have recently commented on IP shares. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, July 11th. Barclays PLC increased their price objective on International Paper from $45.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, May 1st. KeyCorp reiterated a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Vertical Research reiterated a “buy” rating on shares of International Paper in a report on Friday, July 28th. Finally, Royal Bank Of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $56.00 in a report on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. International Paper has a consensus rating of “Hold” and a consensus target price of $57.89.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.64% of the company’s stock.
About International Paper
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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