International Paper (NYSE:IP) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in International Paper (NYSE:IPGet Rating) by 38.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952,595 shares of the basic materials company’s stock after acquiring an additional 262,344 shares during the period. Victory Capital Management Inc. owned 0.25% of International Paper worth $44,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Siemens Fonds Invest GmbH raised its holdings in shares of International Paper by 5.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,287 shares of the basic materials company’s stock valued at $200,000 after buying an additional 215 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of International Paper by 3.8% in the first quarter. Wedbush Securities Inc. now owns 6,276 shares of the basic materials company’s stock valued at $290,000 after buying an additional 230 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of International Paper by 5.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,272 shares of the basic materials company’s stock valued at $201,000 after buying an additional 234 shares during the last quarter. Eaton Vance Management raised its holdings in shares of International Paper by 0.6% in the fourth quarter. Eaton Vance Management now owns 42,943 shares of the basic materials company’s stock valued at $1,743,000 after buying an additional 248 shares during the last quarter. Finally, Advisor Partners LLC raised its holdings in shares of International Paper by 1.6% in the first quarter. Advisor Partners LLC now owns 16,595 shares of the basic materials company’s stock valued at $766,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.

Insider Activity

In other news, SVP William Thomas Hamic sold 3,630 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $47.72, for a total value of $173,223.60. Following the sale, the senior vice president now directly owns 22,050 shares in the company, valued at $1,052,226. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IP. KeyCorp reduced their target price on shares of International Paper from $41.00 to $37.00 and set an “underweight” rating for the company in a report on Friday, July 1st. Citigroup cut shares of International Paper from a “buy” rating to a “neutral” rating and reduced their target price for the company from $53.00 to $46.00 in a report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft cut their price target on shares of International Paper from $48.00 to $44.00 in a report on Tuesday, July 19th. StockNews.com raised shares of International Paper from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Finally, Wells Fargo & Company cut shares of International Paper from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $58.00 to $47.00 in a report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, International Paper has an average rating of “Hold” and a consensus target price of $50.80.

International Paper Trading Up 0.1 %

Shares of International Paper stock opened at $42.82 on Tuesday. International Paper has a 12-month low of $40.21 and a 12-month high of $60.39. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. The stock has a market cap of $15.87 billion, a PE ratio of 8.90 and a beta of 0.91. The company has a 50-day moving average of $43.91 and a two-hundred day moving average of $45.50.

International Paper (NYSE:IPGet Rating) last released its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.11 by $0.13. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.35 billion. International Paper had a net margin of 8.60% and a return on equity of 17.25%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. On average, research analysts anticipate that International Paper will post 4.59 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.85 annualized dividend and a dividend yield of 4.32%. International Paper’s dividend payout ratio is presently 38.46%.

International Paper Profile

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International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including 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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