Everence Capital Management Inc. Has $701,000 Stake in International Paper Company (IP)

Everence Capital Management Inc. maintained its position in International Paper Company (NYSE:IP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,389 shares of the basic materials company’s stock at the end of the second quarter. Everence Capital Management Inc.’s holdings in International Paper were worth $701,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in IP. BlackRock Inc. increased its stake in International Paper by 3,397.1% in the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock worth $1,888,138,000 after buying an additional 36,119,474 shares in the last quarter. Wellington Management Group LLP increased its stake in International Paper by 29.5% in the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after buying an additional 8,273,552 shares in the last quarter. Vanguard Group Inc. increased its stake in International Paper by 2.5% in the first quarter. Vanguard Group Inc. now owns 28,881,442 shares of the basic materials company’s stock worth $1,466,599,000 after buying an additional 694,637 shares in the last quarter. Bank of New York Mellon Corp increased its stake in International Paper by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock worth $409,080,000 after buying an additional 836,888 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in International Paper by 3.8% in the first quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock worth $323,574,000 after buying an additional 230,750 shares in the last quarter. 83.68% of the stock is owned by hedge funds and other institutional investors.

International Paper Company (NYSE IP) opened at 54.29 on Friday. The firm has a market cap of $22.42 billion, a P/E ratio of 27.57 and a beta of 1.46. The firm’s 50-day moving average price is $55.67 and its 200 day moving average price is $53.56. International Paper Company has a 52 week low of $43.55 and a 52 week high of $58.95.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, topping the 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 quarter last year, the company earned $0.92 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities analysts forecast that International Paper Company will post $3.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 annualized dividend and a yield of 3.41%. International Paper’s dividend payout ratio is currently 93.91%.

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A number of equities research analysts have recently weighed in on IP shares. Barclays PLC lifted their target price on International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, May 1st. Citigroup Inc. reissued a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Deutsche Bank AG lifted their target price on International Paper from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, April 25th. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $65.00 target price (up previously from $63.00) on shares of International Paper in a report on Saturday, April 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $58.14.

In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by company insiders.

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.

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

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