Parametric Portfolio Associates LLC Boosts Holdings in International Paper Co (NYSE:IP)
Parametric Portfolio Associates LLC grew its position in International Paper Co (NYSE:IP) by 9.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,943,611 shares of the basic materials company’s stock after acquiring an additional 165,007 shares during the quarter. Parametric Portfolio Associates LLC owned 0.49% of International Paper worth $84,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. DDD Partners LLC purchased a new stake in shares of International Paper in the 2nd quarter worth $9,150,000. OLD National Bancorp IN lifted its stake in shares of International Paper by 0.7% during the 2nd quarter. OLD National Bancorp IN now owns 307,801 shares of the basic materials company’s stock worth $13,333,000 after purchasing an additional 2,209 shares during the last quarter. Swiss National Bank lifted its stake in shares of International Paper by 1.7% during the 1st quarter. Swiss National Bank now owns 1,285,318 shares of the basic materials company’s stock worth $59,472,000 after purchasing an additional 21,800 shares during the last quarter. Good Life Advisors LLC lifted its stake in shares of International Paper by 10.3% during the 1st quarter. Good Life Advisors LLC now owns 7,913 shares of the basic materials company’s stock worth $363,000 after purchasing an additional 736 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of International Paper by 21.7% during the 2nd quarter. Janus Henderson Group PLC now owns 181,662 shares of the basic materials company’s stock worth $7,872,000 after purchasing an additional 32,333 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.
IP has been the subject of a number of analyst reports. UBS Group set a $50.00 price objective on International Paper and gave the stock a “buy” rating in a research note on Monday, June 24th. KeyCorp restated a “sell” rating and set a $38.00 price objective on shares of International Paper in a research note on Thursday, July 25th. Stephens cut International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a research note on Monday, June 24th. ValuEngine raised International Paper from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup lowered International Paper from a “buy” rating to a “neutral” rating and reduced their target price for the company from $53.00 to $45.00 in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $47.42.
Shares of IP stock traded up $0.66 during mid-day trading on Friday, reaching $42.99. The stock had a trading volume of 177,056 shares, compared to its average volume of 3,332,998. The business’s fifty day moving average is $40.30 and its 200-day moving average is $43.66. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 1.38. The firm has a market cap of $16.93 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 1.84 and a beta of 1.52. International Paper Co has a 1-year low of $36.45 and a 1-year high of $54.95.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.77 billion. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 earnings per share. On average, analysts forecast that International Paper Co will post 4.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s dividend payout ratio is presently 37.59%.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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