International Paper Company (IP) Stake Boosted by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC lifted its position in shares of International Paper Company (NYSE:IP) by 18.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,994 shares of the basic materials company’s stock after purchasing an additional 17,484 shares during the quarter. Mutual of America Capital Management LLC’s holdings in International Paper were worth $6,453,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in International Paper by 21.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 51,063 shares of the basic materials company’s stock valued at $2,891,000 after acquiring an additional 9,093 shares in the last quarter. Burney Co. lifted its position in International Paper by 4.5% in the 2nd quarter. Burney Co. now owns 101,543 shares of the basic materials company’s stock valued at $5,654,000 after acquiring an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. lifted its position in International Paper by 2.2% in the 1st quarter. JPMorgan Chase & Co. now owns 438,814 shares of the basic materials company’s stock valued at $22,282,000 after acquiring an additional 9,553 shares in the last quarter. Homrich & Berg bought a new stake in International Paper in the 2nd quarter valued at $337,000. Finally, Private Trust Co. NA lifted its position in International Paper by 10.4% in the 2nd quarter. Private Trust Co. NA now owns 5,245 shares of the basic materials company’s stock valued at $296,000 after acquiring an additional 492 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.
In related news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total transaction of $57,649.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by company insiders.
International Paper Company (NYSE:IP) traded down 0.113% on Wednesday, hitting $57.435. 235,573 shares of the stock traded hands. The firm has a market capitalization of $23.72 billion, a PE ratio of 29.170 and a beta of 1.46. The stock has a 50 day moving average of $54.48 and a 200 day moving average of $53.84. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that International Paper Company will post $3.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, August 11th. International Paper’s dividend payout ratio (DPR) is 93.91%.
Several research firms recently commented on IP. Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $64.00 in a research report on Thursday, July 13th. BidaskClub raised shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Vertical Research reaffirmed a “buy” rating on shares of International Paper in a research report on Friday, July 28th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, July 11th. Finally, Barclays PLC reaffirmed a “sell” rating and issued a $50.00 price objective on shares of International Paper in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. International Paper presently has an average rating of “Hold” and a consensus price target of $60.07.
International Paper Profile
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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