Ropes Wealth Advisors LLC Cuts Holdings in International Paper Co (IP)

Ropes Wealth Advisors LLC lowered its stake in International Paper Co (NYSE:IP) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,854 shares of the basic materials company’s stock after selling 310 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in International Paper were worth $502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IP. Salem Capital Management Inc. lifted its position in shares of International Paper by 0.7% in the first quarter. Salem Capital Management Inc. now owns 136,070 shares of the basic materials company’s stock worth $6,296,000 after purchasing an additional 975 shares in the last quarter. Westbourne Investment Advisors Inc. lifted its position in shares of International Paper by 7.2% in the first quarter. Westbourne Investment Advisors Inc. now owns 62,655 shares of the basic materials company’s stock worth $2,899,000 after purchasing an additional 4,225 shares in the last quarter. Strategic Advisors LLC bought a new stake in shares of International Paper in the first quarter worth $2,196,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of International Paper by 133.3% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 2,000 shares in the last quarter. Finally, American National Bank bought a new stake in shares of International Paper in the first quarter worth $285,000. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

In other International Paper news, SVP W. Michael Jr. Amick sold 9,093 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $47.65, for a total value of $433,281.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $582,175.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,760 shares of company stock worth $4,016,587. 0.32% of the stock is owned by corporate insiders.



A number of analysts have recently commented on the stock. UBS Group cut their price objective on shares of International Paper from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Wednesday, December 19th. Barclays cut their price objective on shares of International Paper from $40.00 to $39.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Citigroup reissued a “buy” rating and issued a $53.00 price objective on shares of International Paper in a research report on Friday, February 1st. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $49.00 price objective on shares of International Paper in a research report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.00.

IP traded down $0.74 during trading on Monday, reaching $47.02. 73,051 shares of the stock were exchanged, compared to its average volume of 2,769,090. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.96 and a beta of 1.57. International Paper Co has a twelve month low of $37.55 and a twelve month high of $59.57. The company has a current ratio of 1.49, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 31st. The basic materials company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.04. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.86 billion. International Paper had a net margin of 8.63% and a return on equity of 30.83%. As a group, research analysts forecast that International Paper Co will post 5.14 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This story was published by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://dakotafinancialnews.com/2019/04/15/ropes-wealth-advisors-llc-cuts-holdings-in-international-paper-co-ip.html.

International Paper Profile

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating Kraft.

Featured Article: Are FAANG stocks a good investment?

Institutional Ownership by Quarter for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.