International Paper Company $IP Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its holdings in shares of International Paper Company (NYSE:IP) by 26.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 265,164 shares of the basic materials company’s stock after selling 95,504 shares during the period. Bank of Montreal Can’s holdings in International Paper were worth $12,418,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of IP. Rise Advisors LLC boosted its stake in shares of International Paper by 281.3% during the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after buying an additional 346 shares during the period. AlphaQuest LLC increased its position in International Paper by 63,400.0% in the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in International Paper during the 2nd quarter valued at approximately $33,000. Zions Bancorporation National Association UT purchased a new stake in International Paper during the 1st quarter valued at approximately $34,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in International Paper during the 2nd quarter worth approximately $37,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE:IP opened at $38.13 on Friday. The firm’s fifty day simple moving average is $45.56 and its 200-day simple moving average is $47.42. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The stock has a market cap of $20.13 billion, a PE ratio of -381.30, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. International Paper Company has a fifty-two week low of $35.79 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same quarter last year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. Analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.9%. International Paper’s dividend payout ratio is currently -70.88%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Jefferies Financial Group lowered their price objective on shares of International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. Stifel Nicolaus set a $57.80 price objective on shares of International Paper and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c-)” rating on shares of International Paper in a research note on Wednesday. Finally, Seaport Res Ptn downgraded shares of International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.67.

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.35% of the stock is owned by insiders.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.