Venturi Wealth Management LLC Sells 5,000 Shares of International Paper Company (IP)

Venturi Wealth Management LLC cut its position in International Paper Company (NYSE:IP) by 35.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,000 shares of the basic materials company’s stock after selling 5,000 shares during the period. Venturi Wealth Management LLC’s holdings in International Paper Company were worth $463,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IP. State Street Corp boosted its position in shares of International Paper Company by 1.4% in the fourth quarter. State Street Corp now owns 26,163,220 shares of the basic materials company’s stock worth $1,388,221,000 after buying an additional 349,298 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of International Paper Company by 62.9% in the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock worth $324,455,000 after buying an additional 2,466,074 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of International Paper Company by 64.2% in the first quarter. Ameriprise Financial Inc. now owns 5,369,840 shares of the basic materials company’s stock worth $271,771,000 after buying an additional 2,098,824 shares during the last quarter. LSV Asset Management boosted its position in shares of International Paper Company by 25.8% in the first quarter. LSV Asset Management now owns 4,998,515 shares of the basic materials company’s stock worth $253,824,000 after buying an additional 1,025,800 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its position in shares of International Paper Company by 149.4% in the first quarter. Iridian Asset Management LLC CT now owns 3,745,820 shares of the basic materials company’s stock worth $190,213,000 after buying an additional 2,243,965 shares during the last quarter. 84.41% of the stock is owned by institutional investors and hedge funds.

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

International Paper Company (NYSE:IP) opened at 56.51 on Friday. International Paper Company has a 12 month low of $39.24 and a 12 month high of $58.86. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 30.20 and a beta of 1.44. The firm has a 50-day moving average price of $53.39 and a 200-day moving average price of $52.83.

International Paper Company (NYSE:IP) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.44 billion. International Paper Company had a net margin of 3.63% and a return on equity of 30.44%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 earnings per share. On average, equities analysts anticipate that International Paper Company will post $3.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 26th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.27%. International Paper Company’s dividend payout ratio (DPR) is presently 98.40%.

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A number of equities analysts have recently issued reports on IP shares. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 target price on shares of International Paper Company in a report on Wednesday, April 12th. Citigroup Inc. reissued a “neutral” rating on shares of International Paper Company in a report on Saturday, April 22nd. Deutsche Bank AG increased their target price on International Paper Company from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, April 25th. Barclays PLC increased their target price on International Paper Company from $45.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, May 1st. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $62.00 target price (up from $61.00) on shares of International Paper Company in a report on Tuesday, February 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.44.

International Paper Company Company 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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