RFG Advisory Group LLC Raises Position in International Paper Company (IP)

RFG Advisory Group LLC raised its position in shares of International Paper Company (NYSE:IP) by 16.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,488 shares of the basic materials company’s stock after buying an additional 914 shares during the period. RFG Advisory Group LLC’s holdings in International Paper Company were worth $328,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of International Paper Company by 29.5% in the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after buying an additional 8,273,552 shares during the period. Norges Bank purchased a new position in shares of International Paper Company during the fourth quarter worth about $196,164,000. Bank of New York Mellon Corp raised 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 period. Iridian Asset Management LLC CT raised 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 period. Finally, Ameriprise Financial Inc. raised 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 period. 84.43% of the stock is owned by institutional investors and hedge funds.

International Paper Company (IP) opened at 56.73 on Tuesday. The firm has a market capitalization of $23.42 billion, a price-to-earnings ratio of 30.32 and a beta of 1.44. The firm’s 50-day moving average is $53.56 and its 200 day moving average is $52.99. International Paper Company has a 12 month low of $39.24 and a 12 month high of $58.86.

International Paper Company (NYSE:IP) last released its earnings results on Thursday, April 27th. The basic materials company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.44 billion. International Paper Company had a net margin of 3.63% and a return on equity of 30.44%. International Paper Company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. Equities analysts predict that International Paper Company will post $3.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 26th were paid a $0.4625 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.26%. International Paper Company’s dividend payout ratio is currently 98.40%.

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A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of International Paper Company from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Barclays PLC boosted their price target on shares of International Paper Company from $45.00 to $48.00 and gave the stock an “underweight” rating in a research note on Monday, May 1st. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target (up from $63.00) on shares of International Paper Company in a research note on Saturday, April 29th. Deutsche Bank AG boosted their price target on shares of International Paper Company from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, April 25th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of International Paper Company in a research note on Saturday, April 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. International Paper Company currently has an average rating of “Hold” and a consensus 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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