Tompkins Financial Corp trimmed its stake in shares of International Paper Co (NYSE:IP) by 43.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,300 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Tompkins Financial Corp’s holdings in International Paper were worth $46,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in International Paper by 8.9% in the 2nd quarter. Pacer Advisors Inc. now owns 139,591 shares of the basic materials company’s stock worth $4,915,000 after purchasing an additional 11,444 shares during the last quarter. Stratos Wealth Advisors LLC bought a new stake in International Paper in the second quarter worth about $761,000. Notis McConarty Edward bought a new position in shares of International Paper during the 2nd quarter valued at about $211,000. Fundamentun LLC acquired a new position in shares of International Paper in the 2nd quarter worth approximately $219,000. Finally, Pitcairn Co. raised its holdings in shares of International Paper by 70.6% in the 2nd quarter. Pitcairn Co. now owns 25,860 shares of the basic materials company’s stock worth $910,000 after purchasing an additional 10,706 shares in the last quarter. 81.06% of the stock is currently owned by institutional investors and hedge funds.

IP opened at $34.79 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 1.38. International Paper Co has a 1 year low of $26.38 and a 1 year high of $47.64. The stock has a fifty day moving average price of $35.29 and a 200 day moving average price of $36.07. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 21.74 and a beta of 1.33.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.38. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.97 billion. International Paper had a net margin of 2.98% and a return on equity of 19.18%. International Paper’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. As a group, sell-side analysts forecast that International Paper Co will post 1.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.5125 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 5.89%. International Paper’s dividend payout ratio is currently 46.28%.

Several research firms have issued reports on IP. Morgan Stanley assumed coverage on shares of International Paper in a research report on Monday, June 15th. They issued an “underweight” rating and a $29.00 price target on the stock. BofA Securities upgraded International Paper from a “neutral” rating to a “buy” rating in a report on Thursday, July 16th. Deutsche Bank reduced their target price on International Paper from $46.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, May 26th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, July 16th. Finally, Wells Fargo & Co upped their price objective on shares of International Paper from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.50.

International Paper Profile

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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

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