International Paper Co (IP) : Grassi Investment Management reduced its stake in International Paper Co by 3.95% during the most recent quarter end. The investment management company now holds a total of 159,152 shares of International Paper Co which is valued at $7,276,429 after selling 6,548 shares in International Paper Co , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.International Paper Co makes up approximately 1.40% of Grassi Investment Management’s portfolio.
Other Hedge Funds, Including , Fruth Investment Management reduced its stake in IP by selling 900 shares or 10.62% in the most recent quarter. The Hedge Fund company now holds 7,575 shares of IP which is valued at $346,329. International Paper Co makes up approx 0.18% of Fruth Investment Management’s portfolio.Salem Capital Management Inc reduced its stake in IP by selling 1,160 shares or 0.82% in the most recent quarter. The Hedge Fund company now holds 139,805 shares of IP which is valued at $6,540,078. International Paper Co makes up approx 3.61% of Salem Capital Management Inc’s portfolio.Carroll Financial Associates reduced its stake in IP by selling 1 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 902 shares of IP which is valued at $42,196. International Paper Co makes up approx 0.01% of Carroll Financial Associates’s portfolio.Summit Financial Wealth Advisors boosted its stake in IP in the latest quarter, The investment management firm added 5,080 additional shares and now holds a total of 18,752 shares of International Paper Co which is valued at $875,906. International Paper Co makes up approx 0.38% of Summit Financial Wealth Advisors’s portfolio.
International Paper Co closed down -1.06 points or -2.27% at $45.72 with 29,08,173 shares getting traded on Tuesday. Post opening the session at $46.56, the shares hit an intraday low of $45.4 and an intraday high of $46.56 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, International Paper Co reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.84. The company had revenue of $5322.00 million for the quarter, compared to analysts expectations of $5313.96 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.97 EPS.
Many Wall Street Analysts have commented on International Paper Co. International Paper Co was Initiated by Goldman to “Neutral” on Sep 22, 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 segments 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 Packagings 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.