Trust Co. of Vermont trimmed its position in shares of International Paper Co (NYSE:IP) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,348 shares of the basic materials company’s stock after selling 1,952 shares during the period. Trust Co. of Vermont’s holdings in International Paper were worth $664,000 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 lifted its stake in shares of 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 buying an additional 333 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of International Paper in the first quarter worth $30,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of 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 buying an additional 388 shares during the last quarter. 81.37% of the stock is owned by hedge funds and other institutional investors.
International Paper stock traded down $0.53 during trading hours on Wednesday, reaching $42.00. 2,276,701 shares of the company’s stock traded hands, compared to its average volume of 2,685,396. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 1.37. International Paper Co has a fifty-two week low of $37.55 and a fifty-two week high of $59.57. The company has a market cap of $16.99 billion, a PE ratio of 7.89, a PEG ratio of 1.66 and a beta of 1.55.
International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue was up .4% compared to the same quarter last year. Research analysts forecast that International Paper Co will post 5.15 EPS for the current 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 equities analysts have recently issued reports on IP shares. Citigroup restated a “buy” rating and issued a $53.00 price objective on shares of International Paper in a research note on Friday, February 1st. 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. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Barclays dropped their price objective on shares of International Paper from $40.00 to $39.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. Finally, 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s 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 firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was 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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