QRG Capital Management Inc. Has $11.94 Million Stock Holdings in International Paper Company (NYSE:IP)

QRG Capital Management Inc. trimmed its position in shares of International Paper Company (NYSE:IP - Free Report) by 23.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,864 shares of the basic materials company's stock after selling 69,016 shares during the quarter. QRG Capital Management Inc.'s holdings in International Paper were worth $11,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of IP. Jones Financial Companies Lllp boosted its stake in shares of International Paper by 18.0% during the fourth quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company's stock valued at $946,000 after purchasing an additional 2,685 shares during the period. Wakefield Asset Management LLLP purchased a new stake in shares of International Paper during the fourth quarter valued at $502,000. Strategic Financial Concepts LLC purchased a new stake in shares of International Paper during the fourth quarter valued at $788,000. Korea Investment CORP boosted its stake in shares of International Paper by 220.6% during the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company's stock valued at $16,720,000 after purchasing an additional 213,783 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of International Paper during the fourth quarter valued at $21,307,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Up 0.3%

NYSE:IP traded up $0.14 during mid-day trading on Wednesday, reaching $46.07. The company's stock had a trading volume of 3,557,210 shares, compared to its average volume of 3,453,716. The company's fifty day simple moving average is $47.14 and its two-hundred day simple moving average is $51.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a twelve month low of $41.50 and a twelve month high of $60.36. The stock has a market cap of $24.32 billion, a P/E ratio of 39.38, a P/E/G ratio of 0.42 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The business's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, equities analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 4.02%. International Paper's payout ratio is currently 158.12%.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective for the company. Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. Wall Street Zen lowered International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. UBS Group initiated coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper has an average rating of "Hold" and an average target price of $54.54.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.