Candriam S.C.A. Has $277,000 Stock Holdings in International Paper (NYSE:IP)

Candriam S.C.A. decreased its holdings in shares of International Paper (NYSE:IP) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,421 shares of the basic materials company’s stock after selling 713 shares during the quarter. Candriam S.C.A.’s holdings in International Paper were worth $277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after purchasing an additional 8,132,332 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after purchasing an additional 5,492,035 shares during the period. Franklin Resources Inc. raised its stake in shares of International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares in the last quarter. Norges Bank bought a new position in International Paper in the fourth quarter worth $94,913,000. Finally, ING Groep NV boosted its stake in International Paper by 74.2% during the fourth quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock worth $29,952,000 after buying an additional 352,934 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 0.1 %

IP stock opened at $47.13 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of 96.18 and a beta of 1.04. The business has a fifty day moving average price of $46.15 and a 200 day moving average price of $42.04. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $49.24.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. Analysts expect that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given 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 dividend yield of 3.93%. International Paper’s payout ratio is 377.55%.

Analyst Ratings Changes

A number of research firms have recently commented on IP. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Wells Fargo & Company raised their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada upped 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. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.21.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the sale, the director now directly owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock valued at $809,922 over the last three months. 0.55% of the stock is owned by insiders.

International Paper Profile

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.