Rockefeller Capital Management L.P. purchased a new position in International Paper Co (NYSE:IP) in the 1st quarter, Holdings Channel reports. The fund purchased 3,553 shares of the basic materials company’s stock, valued at approximately $164,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. MML Investors Services LLC grew its stake in shares of International Paper by 19.4% during the 1st quarter. MML Investors Services LLC now owns 58,768 shares of the basic materials company’s stock valued at $2,719,000 after acquiring an additional 9,539 shares during the period. Azimuth Capital Management LLC grew its stake in shares of International Paper by 13.4% during the 1st quarter. Azimuth Capital Management LLC now owns 70,518 shares of the basic materials company’s stock valued at $3,263,000 after acquiring an additional 8,340 shares during the period. Empowered Funds LLC bought a new position in shares of International Paper during the 1st quarter valued at approximately $2,546,000. Empirical Finance LLC bought a new position in shares of International Paper during the 1st quarter valued at approximately $1,024,000. Finally, Bank of Hawaii grew its stake in shares of International Paper by 6.8% during the 1st quarter. Bank of Hawaii now owns 12,778 shares of the basic materials company’s stock valued at $591,000 after acquiring an additional 808 shares during the period. 81.32% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Thomas J. Plath sold 1,000 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $45.17, for a total transaction of $45,170.00. Following the completion of the transaction, the senior vice president now directly owns 30,671 shares in the company, valued at approximately $1,385,409.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jeanmichel Ribieras sold 5,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $46.85, for a total value of $234,250.00. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.
NYSE IP opened at $43.92 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The company has a market cap of $17.29 billion, a PE ratio of 8.26, a PEG ratio of 1.69 and a beta of 1.54. International Paper Co has a one year low of $37.55 and a one year high of $57.57.
International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The firm had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.73 billion. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. On average, sell-side analysts expect that International Paper Co will post 5.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.55%. International Paper’s dividend payout ratio is currently 37.59%.
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International Paper Company Profile
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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