International Paper Company $IP Shares Sold by Private Trust Co. NA

Private Trust Co. NA lessened its holdings in shares of International Paper Company (NYSE:IP) by 7.7% in the second quarter, HoldingsChannel reports. The fund owned 4,728 shares of the basic materials company’s stock after selling 396 shares during the period. Private Trust Co. NA’s holdings in International Paper were worth $221,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Gentry Private Wealth LLC boosted its position in International Paper by 2.1% during the 2nd quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock worth $438,000 after acquiring an additional 188 shares during the period. Wright Investors Service Inc. raised its stake in shares of International Paper by 2.9% in the 2nd quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock worth $338,000 after buying an additional 201 shares in the last quarter. Greenleaf Trust raised its stake in shares of International Paper by 2.5% in the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock worth $493,000 after buying an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of International Paper by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock worth $480,000 after buying an additional 231 shares in the last quarter. Finally, Csenge Advisory Group raised its stake in shares of International Paper by 1.5% in the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock worth $867,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. BNP Paribas Exane dropped their price objective on International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. downgraded International Paper from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Bank of America raised International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $57.00 in a research note on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.85.

Insider Activity

In other news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

International Paper Stock Down 0.3%

NYSE:IP opened at $47.77 on Wednesday. The business’s fifty day moving average price is $47.15 and its 200 day moving average price is $47.82. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The firm has a market capitalization of $25.22 billion, a price-to-earnings ratio of -477.70, a PEG ratio of 0.58 and a beta of 1.10.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.64 billion. During the same quarter last year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. On average, sell-side analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.9%. International Paper’s dividend payout ratio (DPR) is currently -1,850.00%.

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.