Sigma Planning Corp raised its position in shares of International Paper Co (NYSE:IP) by 12.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,283 shares of the basic materials company’s stock after purchasing an additional 6,401 shares during the period. Sigma Planning Corp’s holdings in International Paper were worth $2,604,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Bremer Trust National Association purchased a new position in International Paper during the fourth quarter valued at approximately $25,000. Baldwin Brothers Inc. MA bought a new stake in International Paper in the fourth quarter worth approximately $26,000. CWM LLC grew its position in International Paper by 81.2% in the fourth quarter. CWM LLC now owns 743 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 333 shares in the last quarter. Truvestments Capital LLC bought a new stake in International Paper in the first quarter worth approximately $30,000. Finally, Proficio Capital Partners LLC grew its position in International Paper by 94.6% in the fourth quarter. Proficio Capital Partners LLC now owns 798 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 388 shares in the last quarter. 81.37% of the stock is owned by hedge funds and other institutional investors.
NYSE:IP traded down $0.53 during mid-day trading on Wednesday, reaching $42.00. 2,276,701 shares of the company were exchanged, compared to its average volume of 2,685,396. International Paper Co has a 12 month low of $37.55 and a 12 month high of $59.57. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The firm has a market cap of $16.99 billion, a P/E ratio of 7.89, a P/E/G ratio of 1.66 and a beta of 1.55.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.20. International Paper had a net margin of 7.32% and a return on equity of 31.35%. The firm had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that International Paper Co will post 5.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.76%. International Paper’s payout ratio is presently 37.59%.
A number of analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of International Paper from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. UBS Group dropped their price objective on shares of International Paper from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Royal Bank of Canada increased their price objective on shares of International Paper to $54.00 and gave the company an “outperform” rating in a research note on Friday, February 1st. Finally, Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. International Paper presently has a consensus rating of “Hold” and an average price target of $53.00.
In related news, SVP Thomas J. Plath sold 1,000 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $45.17, for a total value of $45,170.00. Following the sale, the senior vice president now directly owns 30,671 shares in the company, valued at approximately $1,385,409.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeanmichel Ribieras sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $46.85, for a total transaction of $234,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,667 shares of company stock worth $861,595. Corporate insiders own 0.33% of the company’s stock.
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About International Paper
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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