Toronto Dominion Bank Decreases Stock Position in International Paper (NYSE:IP)

Toronto Dominion Bank cut its holdings in International Paper (NYSE:IPGet Rating) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 163,910 shares of the basic materials company’s stock after selling 7,299 shares during the quarter. Toronto Dominion Bank’s holdings in International Paper were worth $6,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Desjardins Global Asset Management Inc. boosted its position in shares of International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of International Paper in the 2nd quarter worth about $36,000. Capital Asset Advisory Services LLC purchased a new stake in shares of International Paper in the 2nd quarter worth about $41,000. Tcwp LLC purchased a new position in International Paper in the 1st quarter valued at about $49,000. Finally, Concord Wealth Partners lifted its holdings in International Paper by 38.0% in the 2nd quarter. Concord Wealth Partners now owns 1,230 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 339 shares in the last quarter. 85.84% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Up 0.3 %

NYSE IP opened at $36.81 on Thursday. International Paper has a 12 month low of $30.69 and a 12 month high of $50.23. The company has a 50-day moving average of $33.83 and a 200-day moving average of $40.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.38 and a quick ratio of 0.97. The company has a market cap of $13.09 billion, a P/E ratio of 7.01 and a beta of 0.99.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Monday, November 14th. International Paper’s dividend payout ratio (DPR) is presently 35.24%.

Insider Buying and Selling

In related news, SVP Timothy S. Nicholls sold 7,500 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $33.66, for a total transaction of $252,450.00. Following the completion of the sale, the senior vice president now owns 101,897 shares of the company’s stock, valued at approximately $3,429,853.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other International Paper news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.25, for a total value of $167,270,477.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy S. Nicholls sold 7,500 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $33.66, for a total transaction of $252,450.00. Following the completion of the sale, the senior vice president now directly owns 101,897 shares of the company’s stock, valued at approximately $3,429,853.02. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IP shares. Wells Fargo & Company reduced their target price on shares of International Paper from $35.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. Jefferies Financial Group lowered shares of International Paper from a “hold” rating to an “underperform” rating and reduced their target price for the company from $40.00 to $31.00 in a report on Friday, September 16th. BMO Capital Markets reduced their target price on shares of International Paper from $60.00 to $50.00 in a report on Friday, October 28th. KeyCorp reduced their target price on shares of International Paper from $37.00 to $27.00 and set an “underweight” rating on the stock in a report on Friday, September 30th. Finally, Royal Bank of Canada reduced their target price on shares of International Paper from $38.00 to $36.00 and set a “sector perform” rating on the stock in a report on Friday, October 28th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.44.

About International Paper

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International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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

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