MAI Capital Management increased its position in International Paper (NYSE:IP – Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,333 shares of the basic materials company’s stock after purchasing an additional 324 shares during the period. MAI Capital Management’s holdings in International Paper were worth $1,094,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in International Paper by 0.9% in the first quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock worth $1,124,403,000 after acquiring an additional 218,754 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in International Paper by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,909,773 shares of the basic materials company’s stock worth $273,915,000 after acquiring an additional 642,960 shares during the last quarter. Greenhaven Associates Inc. lifted its holdings in International Paper by 4.7% in the first quarter. Greenhaven Associates Inc. now owns 6,365,425 shares of the basic materials company’s stock worth $229,537,000 after acquiring an additional 283,600 shares during the last quarter. Morgan Stanley lifted its holdings in International Paper by 7.6% in the fourth quarter. Morgan Stanley now owns 5,839,269 shares of the basic materials company’s stock worth $202,214,000 after acquiring an additional 413,320 shares during the last quarter. Finally, Mizuho Markets Cayman LP bought a new position in International Paper in the first quarter worth about $162,427,000. 85.80% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other International Paper news, VP Holly G. Goughnour sold 2,500 shares of International Paper stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.70, for a total value of $89,250.00. Following the transaction, the vice president now owns 8,219 shares in the company, valued at $293,418.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other International Paper news, SVP Allison B. Magness sold 3,300 shares of International Paper stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $31.75, for a total transaction of $104,775.00. Following the transaction, the senior vice president now directly owns 21,055 shares in the company, valued at approximately $668,496.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Holly G. Goughnour sold 2,500 shares of International Paper stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.70, for a total transaction of $89,250.00. Following the transaction, the vice president now owns 8,219 shares in the company, valued at $293,418.30. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.
International Paper Price Performance
International Paper (NYSE:IP – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.17. The firm had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.90 billion. International Paper had a net margin of 5.14% and a return on equity of 12.22%. The firm’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. As a group, equities research analysts forecast that International Paper will post 2.21 EPS for the current fiscal year.
International Paper Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.85 annualized dividend and a yield of 5.36%. International Paper’s dividend payout ratio (DPR) is 63.57%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of International Paper from $31.00 to $27.00 in a report on Monday, May 1st. 58.com reaffirmed a “maintains” rating on shares of International Paper in a report on Friday, April 28th. Citigroup lifted their price target on International Paper from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, July 31st. Bank of America cut International Paper from a “neutral” rating to an “underperform” rating and cut their price target for the company from $35.00 to $33.00 in a report on Monday, July 10th. Finally, Royal Bank of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and cut their price target for the company from $40.00 to $39.00 in a report on Friday, April 28th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.82.
Get Our Latest Stock Analysis on IP
International Paper Profile
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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