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

QRG Capital Management Inc. lifted its holdings in shares of International Paper (NYSE:IP) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 269,028 shares of the basic materials company’s stock after purchasing an additional 13,932 shares during the quarter. QRG Capital Management Inc.’s holdings in International Paper were worth $11,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the period. MCF Advisors LLC raised its holdings in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after buying an additional 624 shares during the period. Crewe Advisors LLC purchased a new stake in shares of International Paper in the 1st quarter valued at $29,000. Assetmark Inc. lifted its stake in International Paper by 309.0% during the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 649 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in International Paper in the 4th quarter valued at about $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Down 1.1 %

IP stock traded down $0.50 during trading on Friday, hitting $44.35. 2,214,518 shares of the company’s stock were exchanged, compared to its average volume of 5,746,971. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 90.51 and a beta of 1.06. International Paper has a 52-week low of $31.76 and a 52-week high of $47.40. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $45.03 and a two-hundred day moving average price of $40.06.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $0.59 EPS. The company’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that International Paper will post 1.64 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.17%. International Paper’s dividend payout ratio is presently 377.55%.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total value of $27,756.00. Following the transaction, the director now directly owns 41,602 shares of the company’s stock, valued at approximately $1,924,508.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 3,600 shares of company stock worth $157,386 in the last quarter. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and increased their price objective for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus started coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.96.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.