Grimes Company Lowers stake in International Paper Co (IP)

International Paper Co (IP) : Grimes Company reduced its stake in International Paper Co by 0.55% during the most recent quarter end. The investment management company now holds a total of 181,990 shares of International Paper Co which is valued at $7,874,707 after selling 1,010 shares in International Paper Co , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.International Paper Co makes up approximately 1.02% of Grimes Company’s portfolio.

International Paper Co opened for trading at $43.28 and hit $43.69 on the upside on Monday, eventually ending the session at $43.46, with a gain of 0.44% or 0.19 points. The heightened volatility saw the trading volume jump to 39,63,398 shares. Company has a market cap of $17,869 M.

Other Hedge Funds, Including , Curian Capital reduced its stake in IP by selling 205,501 shares or 86.29% in the most recent quarter. The Hedge Fund company now holds 32,637 shares of IP which is valued at $1,412,203. International Paper Co makes up approx 0.10% of Curian Capital’s portfolio.Advisory Services Network boosted its stake in IP in the latest quarter, The investment management firm added 86 additional shares and now holds a total of 301 shares of International Paper Co which is valued at $13,051. Lebenthal Holdingsllc added IP to its portfolio by purchasing 6,723 company shares during the most recent quarter which is valued at $291,509. International Paper Co makes up approx 0.05% of Lebenthal Holdingsllc’s portfolio. Kanaly Trust Co added IP to its portfolio by purchasing 18 company shares during the most recent quarter which is valued at $751.

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. 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. RBC Capital Mkts Downgraded International Paper Co on Apr 25, 2016 to ” Sector Perform”, Price Target of the shares are set at $46.

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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