Securian Asset Management Inc Sells 216 Shares of International Paper (NYSE:IP)

Securian Asset Management Inc trimmed its holdings in shares of International Paper (NYSE:IP) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,034 shares of the basic materials company’s stock after selling 216 shares during the quarter. Securian Asset Management Inc’s holdings in International Paper were worth $2,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IP. Price T Rowe Associates Inc. MD boosted its position in shares of International Paper by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,153,278 shares of the basic materials company’s stock worth $2,495,508,000 after purchasing an additional 6,109,887 shares during the period. Royal Bank of Canada boosted its position in shares of International Paper by 40.2% in the first quarter. Royal Bank of Canada now owns 7,488,345 shares of the basic materials company’s stock worth $404,896,000 after purchasing an additional 2,147,254 shares during the period. Geode Capital Management LLC boosted its position in shares of International Paper by 3.4% in the first quarter. Geode Capital Management LLC now owns 7,166,492 shares of the basic materials company’s stock worth $386,642,000 after purchasing an additional 232,569 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of International Paper by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,852,369 shares of the basic materials company’s stock worth $262,368,000 after purchasing an additional 684,543 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of International Paper by 10.5% in the first quarter. Ameriprise Financial Inc. now owns 1,939,846 shares of the basic materials company’s stock worth $104,900,000 after purchasing an additional 183,843 shares during the period. Institutional investors own 81.58% of the company’s stock.

IP has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of International Paper from $66.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, June 7th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, June 11th. Jefferies Financial Group boosted their target price on shares of International Paper from $78.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 4th. Stephens raised shares of International Paper from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $58.00 to $80.00 in a research note on Monday, June 28th. Finally, Zacks Investment Research downgraded shares of International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research note on Monday, July 19th. Three analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, International Paper has a consensus rating of “Hold” and a consensus price target of $63.17.

Shares of International Paper stock opened at $57.75 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.20. International Paper has a 1 year low of $38.38 and a 1 year high of $65.27. The firm’s 50-day moving average is $59.15 and its two-hundred day moving average is $58.81. The stock has a market cap of $22.57 billion, a price-to-earnings ratio of 20.05 and a beta of 1.05.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 29th. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.01. International Paper had a net margin of 5.33% and a return on equity of 16.67%. The company had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.60 billion. On average, equities analysts expect that International Paper will post 4.87 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Monday, August 16th will be issued a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, August 13th. International Paper’s dividend payout ratio is currently 73.21%.

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

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