Amalgamated Bank Has $2.71 Million Stake in International Paper Company (IP)

Amalgamated Bank grew its position in International Paper Company (NYSE:IP) by 66.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,919 shares of the basic materials company’s stock after buying an additional 19,089 shares during the period. Amalgamated Bank’s holdings in International Paper were worth $2,713,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Exencial Wealth Advisors LLC grew its stake in shares of 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 buying an additional 16 shares during the period. Wilbanks Smith & Thomas Asset Management LLC grew its stake in shares of 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 buying an additional 20 shares during the period. Vaughan David Investments Inc. IL grew its stake in shares of 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 buying an additional 21 shares during the period. Mechanics Bank Trust Department grew its stake in shares of 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 buying an additional 26 shares during the period. Finally, Moloney Securities Asset Management LLC grew its stake in shares of 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 buying an additional 44 shares during the period. 83.04% of the stock is owned by institutional investors and hedge funds.

In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by insiders.

Several analysts have recently weighed in on IP shares. KeyCorp reissued a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. ValuEngine cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Zacks Investment Research raised shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. DA Davidson raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their price target for the company from $53.75 to $62.00 in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 price target on shares of International Paper in a research note on Monday, August 21st. 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 given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $60.07.

Shares of International Paper Company (NYSE:IP) opened at 56.23 on Friday. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95. The firm’s 50-day moving average is $54.34 and its 200-day moving average is $53.78. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 28.56 and a beta of 1.46.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. International Paper’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that International Paper Company will post $3.46 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 dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.85 annualized dividend and a yield of 3.29%. International Paper’s dividend payout ratio is currently 93.91%.

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About International Paper

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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