Nationwide Fund Advisors Reduces Position in International Paper Company (IP)

Nationwide Fund Advisors cut its position in shares of International Paper Company (NYSE:IP) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,886 shares of the basic materials company’s stock after selling 47,408 shares during the quarter. Nationwide Fund Advisors owned about 0.07% of International Paper worth $15,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. FNY Partners Fund LP boosted its position in shares of International Paper by 166.7% during the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 1,250 shares in the last quarter. Ffcm LLC boosted its position in shares of International Paper by 148.0% during the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 1,242 shares in the last quarter. Asset Advisors Corp boosted its position in shares of International Paper by 3.6% during the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 84 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of International Paper by 24.8% during the first quarter. Parallel Advisors LLC now owns 3,417 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 680 shares in the last quarter. Finally, Hefty Wealth Partners boosted its position in shares of International Paper by 1.7% during the second quarter. Hefty Wealth Partners now owns 3,223 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

International Paper Company (NYSE IP) opened at 57.29 on Friday. The stock’s 50 day moving average price is $54.48 and its 200-day moving average price is $53.84. International Paper Company has a one year low of $43.55 and a one year high of $58.95. The company has a market capitalization of $23.66 billion, a P/E ratio of 29.10 and a beta of 1.46.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Equities analysts forecast that International Paper Company will post $3.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were given a $0.4625 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.20%. International Paper’s payout ratio is 93.91%.

Several research firms recently weighed in on IP. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price target on shares of International Paper in a research report on Monday, August 21st. Jefferies Group LLC restated a “buy” rating and set a $66.00 price target on shares of International Paper in a research report on Friday, August 18th. BMO Capital Markets restated a “buy” rating on shares of International Paper in a research report on Thursday, August 17th. DA Davidson upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.75 to $62.00 in a research report on Monday, August 14th. Finally, Barclays PLC restated a “sell” rating and set a $50.00 price target on shares of International Paper in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus target price of $60.07.

In other news, insider Gregory T. Wanta sold 1,044 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by company insiders.

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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.

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

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