Covenant Multifamily Offices LLC boosted its position in shares of International Paper Co (NYSE:IP) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,757 shares of the basic materials company’s stock after buying an additional 415 shares during the period. Covenant Multifamily Offices LLC’s holdings in International Paper were worth $637,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Osborn Williams & Donohoe LLC grew its stake in shares of International Paper by 55.3% in the 1st quarter. Osborn Williams & Donohoe LLC now owns 34,305 shares of the basic materials company’s stock valued at $1,614,000 after purchasing an additional 12,215 shares during the last quarter. Howe & Rusling Inc. purchased a new position in shares of International Paper in the 1st quarter valued at approximately $526,000. Zeke Capital Advisors LLC grew its stake in shares of International Paper by 10.5% in the 1st quarter. Zeke Capital Advisors LLC now owns 5,690 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 539 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of International Paper by 14.0% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 6,512 shares of the basic materials company’s stock valued at $301,000 after purchasing an additional 802 shares during the last quarter. Finally, KCS Wealth Advisory grew its stake in shares of International Paper by 13.3% in the 1st quarter. KCS Wealth Advisory now owns 15,478 shares of the basic materials company’s stock valued at $716,000 after purchasing an additional 1,814 shares during the last quarter. 82.57% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on International Paper to $54.00 and gave the company an “outperform” rating in a research note on Friday, February 1st. Citigroup restated a “buy” rating and issued a $53.00 price target on shares of International Paper in a research note on Friday, February 1st. Bank of America downgraded International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Barclays decreased their price target 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. Finally, UBS Group decreased their price target 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.00.
IP traded down $0.62 during trading on Wednesday, reaching $43.89. 4,400,020 shares of the stock were exchanged, compared to its average volume of 2,947,336. International Paper Co has a 1 year low of $37.55 and a 1 year high of $59.57. The company has a market cap of $17.91 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 1.74 and a beta of 1.55. 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 (NYSE:IP) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.20. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The company had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts predict that International Paper Co will post 5.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be issued a $0.50 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.56%. International Paper’s dividend payout ratio (DPR) is 37.59%.
In related news, SVP Thomas J. Plath sold 1,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $45.17, for a total value of $45,170.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John V. Sims sold 12,667 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $45.96, for a total value of $582,175.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,760 shares of company stock valued at $1,724,357. Insiders own 0.33% of the company’s stock.
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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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