Peapack Gladstone Financial Corp lifted its position in shares of International Paper Company (NYSE:IP) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,444 shares of the basic materials company’s stock after purchasing an additional 12,191 shares during the quarter. Peapack Gladstone Financial Corp owned 0.05% of International Paper worth $12,310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IP. Exencial Wealth Advisors LLC lifted its position in International Paper by 0.3% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock valued at $357,000 after acquiring an additional 16 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its position in International Paper by 0.3% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock valued at $326,000 after acquiring an additional 20 shares in the last quarter. Vaughan David Investments Inc. IL lifted its position in International Paper by 0.5% in the 1st quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 21 shares in the last quarter. Mechanics Bank Trust Department lifted its position in International Paper by 0.6% in the 2nd quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 26 shares in the last quarter. Finally, Moloney Securities Asset Management LLC lifted its position in International Paper by 0.9% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock valued at $282,000 after acquiring an additional 44 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’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 document filed with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.

Shares of International Paper Company (NYSE:IP) traded down 0.22% during midday trading on Thursday, reaching $57.65. 273,674 shares of the company’s stock traded hands. 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 of $55.47 and a 200 day moving average of $54.27. The firm has a market cap of $23.80 billion, a PE ratio of 29.28 and a beta of 1.46.

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. On average, equities analysts predict that International Paper Company will post $3.45 EPS for the current fiscal 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 3.20%. The ex-dividend date was Friday, August 11th. International Paper’s dividend payout ratio (DPR) is 93.91%.

IP has been the topic of several research reports. BidaskClub raised shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. KeyCorp reaffirmed a “hold” rating on shares of International Paper in a research report on Thursday, June 29th. 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. 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. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price objective (up from $65.00) on shares of International Paper in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. International Paper presently has a consensus rating of “Hold” and an average price target of $60.07.

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International Paper Company 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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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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