National Asset Management Inc. Grows Holdings in International Paper Company (IP)

National Asset Management Inc. raised its position in International Paper Company (NYSE:IP) by 89.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,613 shares of the basic materials company’s stock after acquiring an additional 5,488 shares during the period. National Asset Management Inc.’s holdings in International Paper were worth $660,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in International Paper by 4.4% in the 2nd quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after acquiring an additional 1,648,915 shares in the last quarter. Wellington Management Group LLP lifted its stake in International Paper by 29.5% in the 1st quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock valued at $1,845,965,000 after acquiring an additional 8,273,552 shares in the last quarter. Vanguard Group Inc. lifted its stake in International Paper by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock valued at $1,645,398,000 after acquiring an additional 184,066 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in International Paper by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock valued at $409,080,000 after acquiring an additional 836,888 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in International Paper by 3.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock valued at $323,574,000 after acquiring an additional 230,750 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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 stock was sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

International Paper Company (NYSE IP) traded up 0.19% on Friday, hitting $57.34. The company’s stock had a trading volume of 393,277 shares. The firm has a 50 day moving average of $56.08 and a 200-day moving average of $54.51. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95. The stock has a market cap of $23.68 billion, a PE ratio of 29.12 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, topping the Zacks’ consensus estimate of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that International Paper Company will post $3.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.475 dividend. This is an increase from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, November 14th. International Paper’s dividend payout ratio (DPR) is currently 93.91%.

IP has been the topic of several research reports. KeyCorp restated a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. Zacks Investment Research upgraded International Paper from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. ValuEngine cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. DA Davidson upgraded International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $53.75 to $62.00 in a research note on Monday, August 14th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $65.00 target price on shares of International Paper in a research note on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $60.27.

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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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