Achmea Investment Management B.V. Has $3.60 Million Holdings in International Paper Company (IP)
Achmea Investment Management B.V. cut its stake in shares of International Paper Company (NYSE:IP) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,585 shares of the basic materials company’s stock after selling 20,233 shares during the quarter. Achmea Investment Management B.V.’s holdings in International Paper were worth $3,597,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. United Bank VA grew its holdings in shares of International Paper by 6.3% during the second quarter. United Bank VA now owns 75,702 shares of the basic materials company’s stock valued at $4,286,000 after buying an additional 4,511 shares during the last quarter. RNC Capital Management LLC grew its holdings in shares of International Paper by 3.0% during the second quarter. RNC Capital Management LLC now owns 813,572 shares of the basic materials company’s stock valued at $46,056,000 after buying an additional 24,008 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of International Paper by 25.0% during the second quarter. Toronto Dominion Bank now owns 142,842 shares of the basic materials company’s stock valued at $8,085,000 after buying an additional 28,573 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of International Paper by 1.7% during the second quarter. Cetera Investment Advisers now owns 6,212 shares of the basic materials company’s stock valued at $351,000 after buying an additional 106 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of International Paper by 188.8% during the second quarter. Advisory Services Network LLC now owns 2,533 shares of the basic materials company’s stock valued at $143,000 after buying an additional 1,656 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of International Paper Company (NYSE IP) traded up 0.19% on Friday, hitting $57.72. 150,257 shares of the company’s stock 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 cap of $23.83 billion, a price-to-earnings ratio of 29.31 and a beta of 1.46. The company’s 50-day moving average price is $56.64 and its 200 day moving average price is $54.76.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the firm posted $0.92 EPS. International Paper’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts predict that International Paper Company will post $3.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. This is an increase from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 93.91%.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $64.00 in a report on Thursday, July 13th. Vertical Research reissued a “buy” rating on shares of International Paper in a report on Friday, July 28th. Deutsche Bank AG reissued a “hold” rating and set a $56.00 price objective (up from $54.00) on shares of International Paper in a report on Monday, October 9th. Finally, Barclays PLC reissued a “sell” rating and set a $50.00 price objective on shares of International Paper in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $61.22.
International Paper 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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