Sunbelt Securities Inc. bought a new stake in International Paper Co (NYSE:IP) during the second quarter, HoldingsChannel reports. The institutional investor bought 28,032 shares of the basic materials company’s stock, valued at approximately $1,460,000.

Several other institutional investors and hedge funds have also modified their holdings of IP. CCM Investment Advisers LLC grew its stake in shares of International Paper by 0.8% in the 1st quarter. CCM Investment Advisers LLC now owns 129,035 shares of the basic materials company’s stock valued at $6,894,000 after buying an additional 961 shares in the last quarter. Grassi Investment Management boosted its position in International Paper by 0.9% during the second quarter. Grassi Investment Management now owns 105,807 shares of the basic materials company’s stock worth $5,510,000 after purchasing an additional 962 shares during the period. Holderness Investments Co. boosted its position in International Paper by 5.9% during the first quarter. Holderness Investments Co. now owns 17,492 shares of the basic materials company’s stock worth $935,000 after purchasing an additional 979 shares during the period. Pitcairn Co. boosted its position in International Paper by 8.4% during the second quarter. Pitcairn Co. now owns 12,761 shares of the basic materials company’s stock worth $665,000 after purchasing an additional 993 shares during the period. Finally, Cetera Advisor Networks LLC boosted its position in International Paper by 23.2% during the first quarter. Cetera Advisor Networks LLC now owns 5,283 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 994 shares during the period. Institutional investors own 81.89% of the company’s stock.

IP opened at $51.97 on Friday. International Paper Co has a 1-year low of $50.00 and a 1-year high of $66.94. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.57 and a quick ratio of 1.13. The company has a market capitalization of $21.31 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.05 and a beta of 1.50.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.10. International Paper had a return on equity of 29.24% and a net margin of 12.95%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the business earned $0.65 earnings per share. International Paper’s revenue for the quarter was up 8.4% compared to the same quarter last year. sell-side analysts predict that International Paper Co will post 5.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Wednesday, August 15th will be given a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.66%. International Paper’s dividend payout ratio is 54.44%.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Wednesday, August 1st. Barclays decreased their target price on International Paper from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Monday, July 30th. BMO Capital Markets decreased their target price on International Paper from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, July 27th. ValuEngine raised International Paper from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, Citigroup reissued a “buy” rating and issued a $65.00 price objective (down from $71.00) on shares of International Paper in a research report on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $64.38.

In related news, insider Carleton C. Ealy sold 22,000 shares of the company’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $56.79, for a total value of $1,249,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider W. Michael Jr. Amick sold 10,930 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $55.86, for a total value of $610,549.80. Following the completion of the transaction, the insider now owns 29,844 shares of the company’s stock, valued at $1,667,085.84. The disclosure for this sale can be found here. Insiders sold 47,930 shares of company stock valued at $2,652,980 over the last three months. 0.32% of the stock is owned by company insiders.

International Paper Profile

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including 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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