Wade G W & Inc. lifted its position in shares of International Paper Co (NYSE:IP) by 24.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,443 shares of the basic materials company’s stock after buying an additional 43,817 shares during the period. Wade G W & Inc.’s holdings in International Paper were worth $10,431,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. 10 15 Associates Inc. increased its stake in International Paper by 1.7% in the 4th quarter. 10 15 Associates Inc. now owns 13,290 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 220 shares during the period. CIBC Asset Management Inc increased its stake in International Paper by 0.6% in the 1st quarter. CIBC Asset Management Inc now owns 38,044 shares of the basic materials company’s stock worth $1,760,000 after purchasing an additional 231 shares during the period. Foster & Motley Inc. increased its stake in International Paper by 1.0% in the 4th quarter. Foster & Motley Inc. now owns 24,959 shares of the basic materials company’s stock worth $1,007,000 after purchasing an additional 248 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in International Paper by 1.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,879 shares of the basic materials company’s stock worth $560,000 after purchasing an additional 248 shares during the period. Finally, Fluent Financial LLC increased its stake in International Paper by 0.8% in the 1st quarter. Fluent Financial LLC now owns 35,015 shares of the basic materials company’s stock worth $1,620,000 after purchasing an additional 273 shares during the period. 81.37% of the stock is currently owned by institutional investors.
Shares of IP traded down $0.10 during mid-day trading on Monday, hitting $42.77. 2,743,126 shares of the company’s stock traded hands, compared to its average volume of 2,807,627. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.96 and a current ratio of 1.43. International Paper Co has a 1 year low of $37.55 and a 1 year high of $59.57. The stock has a market capitalization of $16.99 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 1.66 and a beta of 1.55.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. International Paper’s dividend payout ratio is presently 37.59%.
In related news, SVP Thomas J. Plath sold 1,000 shares of International Paper stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $45.17, for a total transaction of $45,170.00. Following the sale, the senior vice president now directly owns 30,671 shares in the company, valued at $1,385,409.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP W. Michael Jr. Amick sold 9,093 shares of International Paper stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $47.65, for a total value of $433,281.45. The disclosure for this sale can be found here. Insiders have sold 27,760 shares of company stock worth $1,294,877 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on IP. Bank of America cut International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. UBS Group reduced their target price on International Paper from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Citigroup boosted their target price on International Paper from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Royal Bank of Canada cut International Paper from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $54.00 to $47.00 in a research note on Friday, April 5th. Finally, Barclays reduced their target price on International Paper from $40.00 to $39.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. International Paper has a consensus rating of “Hold” and an average price target of $53.00.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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