Laffer Investments Has $1,738,000 Stake in International Paper Company (IP)

Laffer Investments maintained its position in International Paper Company (NYSE:IP) during the first quarter, Holdings Channel reports. The fund owned 34,228 shares of the basic materials company’s stock at the end of the first quarter. Laffer Investments’ holdings in International Paper Company were worth $1,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IP. Hefty Wealth Partners increased its position in International Paper Company by 4,425.7% in the first quarter. Hefty Wealth Partners now owns 3,168 shares of the basic materials company’s stock valued at $160,000 after buying an additional 3,098 shares in the last quarter. Trust Co increased its position in International Paper Company by 3.0% in the fourth quarter. Trust Co now owns 6,432 shares of the basic materials company’s stock valued at $341,000 after buying an additional 190 shares in the last quarter. Manning & Napier Advisors LLC increased its position in International Paper Company by 10.1% in the first quarter. Manning & Napier Advisors LLC now owns 70,924 shares of the basic materials company’s stock valued at $3,601,000 after buying an additional 6,505 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in International Paper Company by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 355,123 shares of the basic materials company’s stock valued at $18,033,000 after buying an additional 10,901 shares in the last quarter. Finally, Park National Corp OH increased its position in International Paper Company by 7.0% in the first quarter. Park National Corp OH now owns 5,849 shares of the basic materials company’s stock valued at $297,000 after buying an additional 383 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

International Paper Company (NYSE IP) opened at 56.37 on Monday. The stock has a 50 day moving average price of $54.19 and a 200 day moving average price of $53.16. International Paper Company has a 52 week low of $42.19 and a 52 week high of $58.86. The stock has a market cap of $23.28 billion, a PE ratio of 30.13 and a beta of 1.48.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 26th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Wednesday, May 24th. International Paper Company’s dividend payout ratio is currently 98.40%.

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Several research firms recently commented on IP. Zacks Investment Research raised International Paper Company from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. KeyCorp reaffirmed a “hold” rating on shares of International Paper Company in a research note on Thursday, June 29th. BidaskClub raised International Paper Company from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Barclays PLC raised their target price on International Paper Company from $45.00 to $48.00 and gave the stock an “underweight” rating in a research note on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 target price (up from $63.00) on shares of International Paper Company in a research note on Saturday, April 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. International Paper Company presently has an average rating of “Hold” and an average target price of $55.44.

About International Paper Company

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

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