Strategy Asset Managers LLC Has $1.46 Million Holdings in International Paper Co (IP)
Strategy Asset Managers LLC lessened its holdings in shares of International Paper Co (NYSE:IP) by 79.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 31,494 shares of the basic materials company’s stock after selling 121,453 shares during the quarter. Strategy Asset Managers LLC’s holdings in International Paper were worth $1,457,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Bremer Trust National Association bought a new stake in shares of International Paper in the 4th quarter worth $25,000. Truvestments Capital LLC bought a new stake in shares of International Paper in the 1st quarter worth $30,000. Baldwin Brothers Inc. MA bought a new stake in shares of International Paper in the 4th quarter worth $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of International Paper in the 1st quarter worth $32,000. Finally, CWM LLC raised its stake in shares of International Paper by 81.2% in the 4th quarter. CWM LLC now owns 743 shares of the basic materials company’s stock worth $30,000 after buying an additional 333 shares in the last quarter. Institutional investors own 82.57% of the company’s stock.
In other news, insider Jeanmichel Ribieras sold 10,000 shares of International Paper stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $47.15, for a total transaction of $471,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John V. Sims sold 12,667 shares of International Paper 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. Insiders have sold 46,760 shares of company stock worth $2,195,857 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The business had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. International Paper’s revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts predict that International Paper Co will post 5.17 EPS for the current year.
The firm 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 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 dividend yield of 4.53%. International Paper’s dividend payout ratio is 37.59%.
A number of brokerages have recently issued reports on IP. Bank of America lowered International Paper from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. UBS Group cut their target price on International Paper from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Citigroup boosted their target price on International Paper from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada lowered International Paper from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $54.00 to $47.00 in a research report on Friday, April 5th. Finally, Barclays cut their target price on International Paper from $40.00 to $39.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. International Paper currently has a consensus rating of “Hold” and an average price target of $53.00.
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International Paper 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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