Mount Vernon Associates Inc. MD Increases Position in International Paper Co (NYSE:IP)

Mount Vernon Associates Inc. MD raised its position in International Paper Co (NYSE:IP) by 91.1% during the second quarter, HoldingsChannel reports. The firm owned 21,186 shares of the basic materials company’s stock after buying an additional 10,100 shares during the quarter. Mount Vernon Associates Inc. MD’s holdings in International Paper were worth $918,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in International Paper by 4.9% during the 1st quarter. BlackRock Inc. now owns 38,343,898 shares of the basic materials company’s stock worth $1,774,172,000 after purchasing an additional 1,784,970 shares during the period. Geode Capital Management LLC boosted its stake in International Paper by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock worth $220,435,000 after purchasing an additional 384,793 shares during the period. Clearbridge Investments LLC boosted its stake in International Paper by 2.1% during the 1st quarter. Clearbridge Investments LLC now owns 5,422,937 shares of the basic materials company’s stock worth $250,919,000 after purchasing an additional 113,013 shares during the period. LSV Asset Management boosted its stake in International Paper by 7.2% during the 1st quarter. LSV Asset Management now owns 5,236,758 shares of the basic materials company’s stock worth $242,304,000 after purchasing an additional 352,900 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in International Paper by 67.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock worth $167,264,000 after purchasing an additional 1,667,274 shares during the period. 80.99% of the stock is currently owned by institutional investors.

Shares of International Paper stock opened at $42.14 on Monday. The stock has a market cap of $16.55 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.79 and a beta of 1.49. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.02 and a current ratio of 1.46. International Paper Co has a one year low of $37.55 and a one year high of $54.95. The stock’s fifty day moving average price is $43.40.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.14. The company had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.77 billion. International Paper had a net margin of 6.88% and a return on equity of 30.14%. International Paper’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. As a group, equities analysts anticipate that International Paper Co will post 4.7 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.75%. International Paper’s dividend payout ratio is presently 37.59%.

A number of analysts recently weighed in on IP shares. UBS Group set a $50.00 price target on shares of International Paper and gave the stock a “buy” rating in a research note on Monday, June 24th. Bank of America downgraded shares of International Paper from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. KeyCorp restated a “sell” rating and set a $38.00 price objective on shares of International Paper in a research report on Thursday, July 25th. Citigroup downgraded shares of International Paper from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $53.00 to $45.00 in a research report on Thursday, July 11th. Finally, Stephens downgraded shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.82.

In other news, SVP Thomas J. Plath sold 1,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $45.17, for a total value of $45,170.00. Following the completion of the transaction, the senior vice president now owns 30,671 shares in the company, valued at approximately $1,385,409.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the completion of the transaction, the senior vice president now owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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

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