Rathbones Group PLC Trims Stake in International Paper Company $IP

Rathbones Group PLC lessened its position in shares of International Paper Company (NYSE:IP) by 18.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,712 shares of the basic materials company’s stock after selling 29,539 shares during the quarter. Rathbones Group PLC’s holdings in International Paper were worth $6,121,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in International Paper by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after buying an additional 1,592,411 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of International Paper by 2.0% during the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock worth $751,000 after acquiring an additional 282 shares during the period. Consolidated Planning Corp acquired a new position in shares of International Paper during the second quarter worth about $317,000. Whalen Wealth Management Inc. purchased a new position in International Paper during the second quarter worth about $604,000. Finally, MBB Public Markets I LLC acquired a new stake in International Paper in the first quarter valued at about $313,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares in the company, valued at $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

International Paper Stock Up 4.4%

International Paper stock opened at $38.13 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a market capitalization of $20.13 billion, a price-to-earnings 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. The stock’s fifty day moving average is $45.56 and its two-hundred day moving average is $47.42.

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

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IP. Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Stifel Nicolaus set a $57.80 price objective on International Paper and gave the stock a “buy” rating in a report on Friday, October 17th. Royal Bank Of Canada reduced their target price on International Paper from $61.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Jefferies Financial Group lowered their price target on shares of International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. Finally, Wells Fargo & Company cut their price target on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a report on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, International Paper presently has an average rating of “Hold” and an average price target of $50.67.

International Paper 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.