Oppenheimer & Co. Inc. increased its position in shares of International Paper Company (NYSE:IP) by 21.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,063 shares of the basic materials company’s stock after purchasing an additional 9,093 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in International Paper were worth $2,891,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of IP. FNY Partners Fund LP grew its holdings in International Paper by 166.7% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,250 shares in the last quarter. Asset Advisors Corp grew its holdings in International Paper by 3.6% in the 2nd quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after buying an additional 84 shares in the last quarter. Parallel Advisors LLC grew its holdings in International Paper by 24.8% in the 1st quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock valued at $182,000 after buying an additional 680 shares in the last quarter. Hefty Wealth Partners grew its holdings in International Paper by 1.7% in the 2nd quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock valued at $182,000 after buying an additional 55 shares in the last quarter. Finally, GWM Advisors LLC grew its holdings in International Paper by 5.4% in the 1st quarter. GWM Advisors LLC now owns 4,032 shares of the basic materials company’s stock valued at $203,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.

International Paper Company (IP) opened at 54.91 on Tuesday. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95. The stock’s 50 day moving average price is $54.85 and its 200-day moving average price is $53.60. The stock has a market capitalization of $22.67 billion, a PE ratio of 27.89 and a beta of 1.46.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Analysts expect that International Paper Company will post $3.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, August 11th. International Paper’s dividend payout ratio is currently 93.91%.

Several brokerages have issued reports on IP. ValuEngine cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Jefferies Group LLC restated a “buy” rating and issued a $66.00 target price (up from $65.00) on shares of International Paper in a report on Friday, July 14th. Zacks Investment Research cut International Paper from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Vertical Research restated a “buy” rating on shares of International Paper in a report on Friday, July 28th. Finally, KeyCorp restated a “hold” rating on shares of International Paper in a report on Thursday, July 27th. 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 issued a strong buy rating to the stock. International Paper presently has a consensus rating of “Hold” and a consensus price target of $59.42.

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

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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.

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

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