D.a. Davidson buys $21.7 Million stake in International Paper Co (IP)

International Paper Co (IP) : D.a. Davidson scooped up 134,682 additional shares in International Paper Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 517,938 shares of International Paper Co which is valued at $21.7 Million.International Paper Co makes up approximately 0.68% of D.a. Davidson’s portfolio.

Other Hedge Funds, Including , Ikos Cif Ltd sold out all of its stake in IP during the most recent quarter. The investment firm sold 1,109 shares of IP which is valued $46,545.Risk Paradigm Group boosted its stake in IP in the latest quarter, The investment management firm added 233 additional shares and now holds a total of 2,063 shares of International Paper Co which is valued at $86,584. International Paper Co makes up approx 0.11% of Risk Paradigm Group’s portfolio.Buckingham Capital Management reduced its stake in IP by selling 1,056 shares or 3.45% in the most recent quarter. The Hedge Fund company now holds 29,551 shares of IP which is valued at $1.2 Million. International Paper Co makes up approx 0.34% of Buckingham Capital Management’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in IP by selling 17,370 shares or 3.15% in the most recent quarter. The Hedge Fund company now holds 533,303 shares of IP which is valued at $22.5 Million. International Paper Co makes up approx 0.09% of State Board Of Administration Of Florida Retirement System’s portfolio.Rhumbline Advisers boosted its stake in IP in the latest quarter, The investment management firm added 4,558 additional shares and now holds a total of 660,577 shares of International Paper Co which is valued at $27.8 Million. International Paper Co makes up approx 0.09% of Rhumbline Advisers’s portfolio.

International Paper Co opened for trading at $41.18 and hit $42.42 on the upside on Wednesday, eventually ending the session at $42.13, with a gain of 2.81% or 1.15 points. The heightened volatility saw the trading volume jump to 48,84,343 shares. Company has a market cap of $17,323 M.

On the company’s financial health, International Paper Co reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.69. The company had revenue of $5110.00 million for the quarter, compared to analysts expectations of $5201.31 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.84 EPS.

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 segment’s 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 Packaging’s 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.

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