Sentry Investment Management LLC held its position in shares of International Paper Co. (NYSE:IP) during the third quarter, Holdings Channel reports. The fund owned 32,379 shares of the company’s stock at the end of the third quarter. Sentry Investment Management LLC’s holdings in International Paper were worth $1,554,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Springbok Capital Management LLC increased its stake in International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock worth $171,000 after buying an additional 1,405 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in International Paper by 91.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 31,051 shares of the company’s stock worth $1,275,000 after buying an additional 14,828 shares during the period. First Republic Investment Management Inc. increased its stake in International Paper by 5.1% in the first quarter. First Republic Investment Management Inc. now owns 27,304 shares of the company’s stock worth $1,122,000 after buying an additional 1,319 shares during the period. Cullinan Associates Inc. acquired a new stake in International Paper during the first quarter worth about $225,000. Finally, Summit Financial Wealth Advisors LLC increased its stake in International Paper by 17.1% in the second quarter. Summit Financial Wealth Advisors LLC now owns 13,672 shares of the company’s stock worth $579,000 after buying an additional 1,995 shares during the period. 80.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of International Paper Co. (NYSE:IP) traded down 0.41% during midday trading on Monday, hitting $48.65. 495,939 shares of the stock were exchanged. The stock’s 50-day moving average price is $46.46 and its 200-day moving average price is $45.36. International Paper Co. has a 1-year low of $32.50 and a 1-year high of $49.90. The firm has a market capitalization of $20.01 billion, a price-to-earnings ratio of 23.43 and a beta of 1.52.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by $0.02. International Paper had a net margin of 4.09% and a return on equity of 35.28%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the business posted $0.97 earnings per share. International Paper’s revenue was down 7.5% on a year-over-year basis. On average, analysts forecast that International Paper Co. will post $3.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Thursday, November 10th. This is a boost from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a yield of 3.79%. International Paper’s dividend payout ratio (DPR) is 88.52%.
A number of analysts have recently issued reports on IP shares. Credit Suisse Group AG reiterated a “hold” rating and issued a $47.00 price objective on shares of International Paper in a report on Monday, August 1st. Citigroup Inc. lifted their price objective on shares of International Paper from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. Jefferies Group reiterated a “hold” rating on shares of International Paper in a report on Friday, August 5th. Deutsche Bank AG boosted their target price on shares of International Paper from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Finally, BMO Capital Markets restated a “market perform” rating and set a $47.00 target price on shares of International Paper in a report on Saturday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $47.83.
In other International Paper news, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William P. Hoel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
About International Paper
International Paper Company (International Paper) 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 operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.