United Bank VA lessened its holdings in International Paper Company (NYSE:IP) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,550 shares of the basic materials company’s stock after selling 4,152 shares during the period. International Paper makes up 3.9% of United Bank VA’s investment portfolio, making the stock its 12th largest position. United Bank VA’s holdings in International Paper were worth $4,065,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Exencial Wealth Advisors LLC lifted its stake in International Paper by 0.3% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock worth $357,000 after acquiring an additional 16 shares in the last quarter. Piedmont Investment Advisors LLC lifted its stake in International Paper by 0.5% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock worth $245,000 after acquiring an additional 20 shares in the last quarter. Mechanics Bank Trust Department lifted its stake in International Paper by 0.6% during the 2nd quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 26 shares in the last quarter. Moloney Securities Asset Management LLC lifted its stake in International Paper by 0.9% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 4,989 shares of the basic materials company’s stock worth $282,000 after acquiring an additional 44 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in International Paper by 2.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after acquiring an additional 47 shares in the last quarter. 83.06% of the stock is currently owned by institutional investors and hedge funds.
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Shares of International Paper Company (NYSE:IP) traded up 0.63% on Wednesday, hitting $57.63. The company’s stock had a trading volume of 206,091 shares. The firm has a market cap of $23.80 billion, a PE ratio of 29.27 and a beta of 1.46. International Paper Company has a 1-year low of $43.55 and a 1-year high of $58.96. The company has a 50 day moving average of $57.27 and a 200 day moving average of $55.23.
International Paper (NYSE:IP) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. Equities analysts forecast that International Paper Company will post $3.50 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.475 per share. The ex-dividend date is Tuesday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.32%. International Paper’s dividend payout ratio is 85.25%.
IP has been the topic of several research reports. KeyCorp reissued a “hold” rating on shares of International Paper in a research note on Thursday, July 27th. Zacks Investment Research raised International Paper from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. ValuEngine lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. DA Davidson upgraded 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. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price objective on shares of International Paper in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.73.
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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