Home Federal Bank of Tennessee Has $1.20 Million Holdings in International Paper (NYSE:IP)

Home Federal Bank of Tennessee lifted its stake in International Paper (NYSE:IPGet Rating) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,578 shares of the basic materials company’s stock after buying an additional 555 shares during the period. Home Federal Bank of Tennessee’s holdings in International Paper were worth $1,195,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. James Reed Financial Services Inc. acquired a new position in shares of International Paper in the 4th quarter worth approximately $52,000. Bivin & Associates Inc. bought a new stake in International Paper during the 4th quarter worth approximately $30,000. Desjardins Global Asset Management Inc. grew its position in International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 211 shares during the last quarter. Mystic Asset Management Inc. bought a new stake in International Paper during the 4th quarter worth approximately $42,000. Finally, Westside Investment Management Inc. grew its position in International Paper by 112.4% during the 1st quarter. Westside Investment Management Inc. now owns 945 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 500 shares during the last quarter. 85.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IP. Jefferies Financial Group lowered International Paper from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $40.00 to $31.00 in a research report on Friday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on International Paper from $48.00 to $44.00 in a research report on Tuesday, July 19th. Wells Fargo & Company lowered International Paper from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $58.00 to $47.00 in a research report on Monday, July 18th. Citigroup lowered International Paper from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $53.00 to $46.00 in a research report on Tuesday, June 21st. Finally, KeyCorp decreased their price objective on International Paper from $41.00 to $37.00 and set an “underweight” rating on the stock in a research report on Friday, July 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.40.

Insider Transactions at International Paper

In related news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $36.25, for a total transaction of $167,270,477.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

International Paper Trading Down 3.4 %

Shares of NYSE:IP traded down $1.15 during midday trading on Friday, hitting $32.66. The company had a trading volume of 114,275 shares, compared to its average volume of 2,849,026. International Paper has a 12 month low of $33.55 and a 12 month high of $57.86. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 7.03 and a beta of 0.90. The firm has a fifty day simple moving average of $41.67 and a 200 day simple moving average of $44.21.

International Paper (NYSE:IPGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.13. International Paper had a return on equity of 17.25% and a net margin of 8.60%. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company earned $1.06 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. On average, analysts predict that International Paper will post 4.54 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a $0.4625 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.85 annualized dividend and a dividend yield of 5.66%. International Paper’s dividend payout ratio is currently 38.46%.

International Paper Profile

(Get Rating)

International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Recommended Stories

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper (NYSE:IPGet Rating).

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

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.