Stevens Capital Management LP boosted its holdings in International Paper Co (NYSE:IP) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,687 shares of the basic materials company’s stock after purchasing an additional 6,324 shares during the quarter. Stevens Capital Management LP’s holdings in International Paper were worth $4,059,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in IP. Advisory Alpha LLC acquired a new stake in International Paper during the first quarter worth about $25,000. Bremer Bank National Association acquired a new stake in International Paper during the first quarter worth about $28,000. Truvestments Capital LLC acquired a new stake in International Paper during the first quarter worth about $30,000. First Interstate Bank acquired a new stake in International Paper during the first quarter worth about $37,000. Finally, Hanson McClain Inc. increased its stake in International Paper by 82.2% during the first quarter. Hanson McClain Inc. now owns 869 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
IP traded down $1.00 on Wednesday, reaching $39.05. The company’s stock had a trading volume of 131,249 shares, compared to its average volume of 3,081,193. The firm has a market cap of $15.36 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. International Paper Co has a 1 year low of $37.55 and a 1 year high of $54.95. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.02 and a current ratio of 1.46. The firm has a 50 day moving average of $42.80.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Wednesday, August 14th. International Paper’s dividend payout ratio is currently 37.59%.
In other International Paper news, SVP Thomas J. Plath sold 1,000 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $45.17, for a total transaction of $45,170.00. Following the transaction, the senior vice president now owns 30,671 shares of the company’s stock, valued at approximately $1,385,409.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $44.97, for a total value of $1,012,139.79. Following the transaction, the senior vice president now directly owns 61,554 shares in the company, valued at approximately $2,768,083.38. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
IP has been the subject of several research analyst reports. KeyCorp restated a “sell” rating and set a $38.00 price target on shares of International Paper in a research note on Thursday, July 25th. Citigroup lowered International Paper from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $53.00 to $45.00 in a research note on Thursday, July 11th. Bank of America lowered International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. UBS Group set a $50.00 price target on International Paper and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Stephens lowered International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target for the company. in a research note on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.82.
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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