International Paper Company (IP) Shares Bought by Knights of Columbus Asset Advisors LLC
Knights of Columbus Asset Advisors LLC boosted its position in International Paper Company (NYSE:IP) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,150 shares of the basic materials company’s stock after buying an additional 2,250 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in International Paper were worth $1,311,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. FNY Partners Fund LP increased its stake in 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 worth $101,000 after buying an additional 1,250 shares during the period. Asset Advisors Corp increased its stake 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 worth $136,000 after buying an additional 84 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in shares of International Paper during the first quarter worth approximately $172,000. Parallel Advisors LLC increased its stake in shares of International Paper by 24.8% in the first quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock worth $182,000 after buying an additional 680 shares during the period. Finally, Hefty Wealth Partners increased its stake in shares of International Paper by 1.7% in the second quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock worth $182,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 83.68% of the company’s stock.
International Paper Company (IP) traded up 1.30% during trading on Friday, reaching $54.59. 2,015,714 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $55.31 and a 200-day moving average price of $53.55. The firm has a market cap of $22.54 billion, a PE ratio of 27.72 and a beta of 1.46. International Paper Company has a 12 month low of $43.55 and a 12 month high of $58.95.
International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping 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 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 posted $0.92 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that International Paper Company will post $3.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 dividend yield of 3.39%. International Paper’s payout ratio is 93.91%.
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A number of equities research analysts have recently commented on the company. BMO Capital Markets reiterated a “buy” rating on shares of International Paper in a research report on Thursday, August 17th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price objective on shares of International Paper in a research report on Friday, August 18th. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of International Paper in a research report on Monday, August 21st. Barclays PLC reissued a “sell” rating and set a $50.00 target price on shares of International Paper in a research note on Wednesday, August 2nd. Finally, KeyCorp reissued a “hold” rating on shares of International Paper in a research note on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $58.89.
In other news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction dated Tuesday, August 1st. The shares were 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 is available at this hyperlink. 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.
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