International Paper Co (IP) : Conning reduced its stake in International Paper Co by 3.32% during the most recent quarter end. The investment management company now holds a total of 564,290 shares of International Paper Co which is valued at $25,725,981 after selling 19,386 shares in International Paper Co , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.International Paper Co makes up approximately 1.07% of Conning’s portfolio.
Other Hedge Funds, Including , Louisiana State Employees Retirement System reduced its stake in IP by selling 500 shares or 1.82% in the most recent quarter. The Hedge Fund company now holds 27,000 shares of IP which is valued at $1,230,930. International Paper Co makes up approx 0.06% of Louisiana State Employees Retirement System’s portfolio.Investment Counsel boosted its stake in IP in the latest quarter, The investment management firm added 5,790 additional shares and now holds a total of 18,325 shares of International Paper Co which is valued at $824,808. International Paper Co makes up approx 0.65% of Investment Counsel’s portfolio.Raymond James Trust N.a. reduced its stake in IP by selling 1,828 shares or 15.55% in the most recent quarter. The Hedge Fund company now holds 9,928 shares of IP which is valued at $424,422. International Paper Co makes up approx 0.04% of Raymond James Trust N.a.’s portfolio.
International Paper Co opened for trading at $45.57 and hit $45.89 on the upside on Friday, eventually ending the session at $45.81, with a gain of 0.17% or 0.08 points. The heightened volatility saw the trading volume jump to 23,19,707 shares. Company has a market cap of $18,836 M.
On the company’s financial health, International Paper Co reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.84. The company had revenue of $5322.00 million for the quarter, compared to analysts expectations of $5313.96 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.97 EPS.
Investors should note that on Jul 12, 2016, International Paper Co announced a cash dividend of $0.4400. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Sep 15, 2016.
Many Wall Street Analysts have commented on International Paper Co. International Paper Co was Downgraded by Jefferies to ” Hold” on May 3, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 44 from a previous price target of $38 .International Paper Co was Downgraded by Credit Suisse to ” Neutral” on Apr 28, 2016.
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 operates in three segments: Industrial Packaging Printing Papers and Consumer Packaging. Industrial Packaging segments products include linerboard medium whitetop recycled linerboard recycled medium and saturating kraft. Printing Papers segment products include uncoated papers which engage in the business of producing papers for use in copiers desktop and laser printers and pulp which manufactures printing writing and specialty papers tissue products and filtration products. Consumer Packagings coated paperboard business produces coated paperboard for packaging and commercial printing end uses. Its foodservice business produces cups lids food containers and plates. Its brands include Hammermill Springhill Accent Ballet Rey Pol Everest Fortress and Carolina.