The International Paper Co (IP) Shares Bought by Pinnacle Financial Partners Inc.

The International Paper Co (IP) Shares Bought by Pinnacle Financial Partners Inc.

A number of other hedge funds also recently made changes to their positions in IP. Cantab Capital Partners LLP increased its stake in shares of International Paper by 1,015.7% in the fourth quarter. Cantab Capital Partners LLP now owns 2,633 shares of the basic materials company’s stock worth $140,000 after buying an additional 2,397 shares in the last quarter. Parallel Advisors LLC acquired a new stake in International Paper during the fourth quarter worth $145,000. Hefty Wealth Partners increased its stake in International Paper by 4,425.7% in the first quarter. Hefty Wealth Partners now owns 3,168 shares of the basic materials company’s stock worth $160,000 after buying an additional 3,098 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in International Paper during the first quarter worth approximately $172,000. Finally, Blenheim Capital Management BV purchased a new position in International Paper during the fourth quarter worth approximately $191,000. Institutional investors own 82.62% of the company’s stock.

Pinnacle Financial Partners Inc. increased its position in shares of International Paper Co (NYSE:IP) by 11.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,256 shares of the basic materials company’s stock after buying an additional 4,167 shares during the period. Pinnacle Financial Partners Inc.’s holdings in International Paper were worth $2,095,000 as of its most recent filing with the SEC.

Shares of International Paper Co (NYSE IP) opened at 54.39 on Monday. International Paper Co has a 1-year low of $39.24 and a 1-year high of $58.86. The stock has a 50 day moving average of $52.79 and a 200-day moving average of $52.38. The firm has a market cap of $22.46 billion, a price-to-earnings ratio of 29.07 and a beta of 1.58.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. International Paper had a return on equity of 32.96% and a net margin of 4.29%. The firm had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the business posted $0.80 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts anticipate that International Paper Co will post $3.63 EPS for the current fiscal year. The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, May 26th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.40%. The ex-dividend date is Wednesday, May 24th. International Paper’s dividend payout ratio (DPR) is presently 84.47%.

IP has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 6th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price objective on shares of International Paper in a research report on Wednesday, April 12th. Citigroup Inc reissued a “neutral” rating on shares of International Paper in a research report on Saturday, April 22nd. Deutsche Bank AG boosted their price objective on shares of International Paper from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Finally, Barclays PLC upped their price target on shares of International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a research report on Monday, May 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $55.44. In other International Paper news, insider John V. Sims sold 2,333 shares of the stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $52.11, for a total value of $121,572.63. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider W. Michael Jr. Amick sold 10,351 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $51.46, for a total value of $532,662.46. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

About International Paper 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “IP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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