Salem Capital Management Inc Lowers stake in International Paper Co (IP)

International Paper Co (IP) : Salem Capital Management Inc reduced its stake in International Paper Co by 0.82% during the most recent quarter end. The investment management company now holds a total of 139,805 shares of International Paper Co which is valued at $6,540,078 after selling 1,160 shares in International Paper Co , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.International Paper Co makes up approximately 3.61% of Salem Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Raymond James Trust N.a. boosted its stake in IP in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 9,979 shares of International Paper Co which is valued at $466,818. International Paper Co makes up approx 0.04% of Raymond James Trust N.a.’s portfolio.Advisory Services Network boosted its stake in IP in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 752 shares of International Paper Co which is valued at $35,209. International Paper Co makes up approx 0.01% of Advisory Services Network’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in IP by selling 1,437 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 104,995 shares of IP which is valued at $4,915,866. International Paper Co makes up approx 0.10% of Exxonmobil Investment Management Inc Tx’s portfolio.Chevy Chase Trust Holdings reduced its stake in IP by selling 8,088 shares or 2.3% in the most recent quarter. The Hedge Fund company now holds 343,761 shares of IP which is valued at $16,057,076. International Paper Co makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.Lynch Associatesin boosted its stake in IP in the latest quarter, The investment management firm added 1,325 additional shares and now holds a total of 28,338 shares of International Paper Co which is valued at $1,323,668. International Paper Co makes up approx 0.59% of Lynch Associatesin’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 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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