Indie Asset Partners LLC lowered its position in International Paper (NYSE:IP) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,254 shares of the basic materials company’s stock after selling 700 shares during the quarter. Indie Asset Partners LLC’s holdings in International Paper were worth $609,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Advisory Alpha LLC bought a new stake in International Paper during the 3rd quarter valued at $30,000. Dimension Capital Management LLC purchased a new stake in International Paper in the third quarter valued at approximately $32,000. NEXT Financial Group Inc acquired a new position in International Paper in the 3rd quarter worth approximately $39,000. Clear Harbor Asset Management LLC purchased a new position in International Paper during the 3rd quarter worth approximately $41,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in International Paper by 62.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 874 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 335 shares during the period. 81.57% of the stock is currently owned by institutional investors.
In other news, SVP Sharon R. Ryan sold 30,000 shares of International Paper stock in a transaction that occurred on Monday, December 7th. The stock was sold at an average price of $48.30, for a total value of $1,449,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP W. Michael Jr. Amick sold 4,000 shares of International Paper stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $48.85, for a total value of $195,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,849 shares of company stock worth $2,946,553. 0.37% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on the stock. Smith Barney Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating in a report on Monday, November 16th. Jefferies Financial Group initiated coverage on International Paper in a research note on Tuesday, January 5th. They set a “buy” rating for the company. Wells Fargo & Company upped their target price on International Paper from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, January 11th. Seaport Global Securities upgraded International Paper from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Friday, February 5th. Finally, Morgan Stanley lifted their price target on International Paper from $37.00 to $44.00 and gave the company an “underweight” rating in a research report on Tuesday, January 12th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $48.00.
IP traded up $0.30 during trading on Tuesday, hitting $49.70. The company’s stock had a trading volume of 86,944 shares, compared to its average volume of 3,132,103. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 1.20. International Paper has a twelve month low of $26.38 and a twelve month high of $53.39. The business’s fifty day simple moving average is $49.99 and its 200 day simple moving average is $45.45. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 39.52 and a beta of 1.10.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, February 4th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). International Paper had a net margin of 2.37% and a return on equity of 17.27%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that International Paper will post 2.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Thursday, February 18th will be issued a $0.5125 dividend. This represents a $2.05 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, February 17th. International Paper’s payout ratio is currently 46.28%.
International Paper Profile
International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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