International Paper Company (IP) Stake Lessened by WFG Advisors LP

WFG Advisors LP cut its stake in International Paper Company (NYSE:IP) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,166 shares of the basic materials company’s stock after selling 264 shares during the period. WFG Advisors LP’s holdings in International Paper were worth $179,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FNY Partners Fund LP boosted its holdings in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 1,250 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of International Paper by 2.4% in the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 47 shares in the last quarter. Ffcm LLC boosted its holdings in shares of International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 1,242 shares in the last quarter. Asset Advisors Corp boosted its holdings in shares of International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after acquiring an additional 84 shares in the last quarter. Finally, Krilogy Financial LLC boosted its holdings in shares of International Paper by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 83.00% of the company’s stock.

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Shares of International Paper Company (NYSE IP) traded down 0.84% during mid-day trading on Thursday, reaching $57.53. 110,266 shares of the company were exchanged. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95. The stock has a market capitalization of $23.76 billion, a P/E ratio of 29.22 and a beta of 1.46. The firm has a 50-day moving average price of $56.53 and a 200 day moving average price of $54.74.

International Paper (NYSE:IP) last issued its quarterly 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 net margin of 3.73% and a return on equity of 27.09%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the company earned $0.92 EPS. International Paper’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that International Paper Company will post $3.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. This is a boost from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.27%. International Paper’s payout ratio is currently 93.91%.

In other news, insider Gregory T. Wanta sold 1,044 shares of International Paper 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is owned by insiders.

Several research analysts have recently issued reports on IP shares. Zacks Investment Research upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, July 11th. DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $53.75 to $62.00 in a report on Monday, August 14th. BidaskClub cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 24th. KeyCorp reiterated a “hold” rating on shares of International Paper in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $60.00 to $64.00 in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. International Paper has a consensus rating of “Hold” and an average target price of $61.22.

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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