Prospera Financial Services Inc Acquires New Shares in International Paper (NYSE:IP)

Prospera Financial Services Inc bought a new position in International Paper (NYSE:IPGet Rating) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,227 shares of the basic materials company’s stock, valued at approximately $149,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Banque Pictet & Cie SA boosted its holdings in shares of International Paper by 503.3% in the 4th quarter. Banque Pictet & Cie SA now owns 41,036 shares of the basic materials company’s stock worth $1,928,000 after purchasing an additional 34,234 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in International Paper by 8.7% during the 4th quarter. Guggenheim Capital LLC now owns 219,302 shares of the basic materials company’s stock valued at $10,303,000 after acquiring an additional 17,559 shares during the period. Renaissance Technologies LLC purchased a new stake in International Paper during the 4th quarter valued at about $97,949,000. Bivin & Associates Inc. purchased a new stake in International Paper during the 4th quarter valued at about $30,000. Finally, Norwood Financial Corp purchased a new stake in International Paper during the 4th quarter valued at about $47,000. 82.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Paper

In other International Paper news, SVP William Thomas Hamic sold 3,630 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $47.72, for a total transaction of $173,223.60. Following the sale, the senior vice president now directly owns 22,050 shares of the company’s stock, valued at $1,052,226. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

International Paper Stock Performance

Shares of IP opened at $41.87 on Friday. The business’s fifty day simple moving average is $43.57 and its two-hundred day simple moving average is $45.40. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. International Paper has a 12 month low of $40.21 and a 12 month high of $60.39. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 8.70 and a beta of 0.91.

International Paper (NYSE:IPGet Rating) last released its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.35 billion. International Paper had a return on equity of 17.25% and a net margin of 8.60%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. Research analysts anticipate that International Paper will post 4.6 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 12th. This represents a $1.85 dividend on an annualized basis and a yield of 4.42%. International Paper’s dividend payout ratio is presently 38.46%.

Analyst Ratings Changes

IP has been the subject of several analyst reports. KeyCorp dropped their target price on International Paper from $41.00 to $37.00 and set an “underweight” rating for the company in a report on Friday, July 1st. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and dropped their target price for the company from $53.00 to $46.00 in a report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on International Paper from $48.00 to $44.00 in a report on Tuesday, July 19th. Wells Fargo & Company cut International Paper from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $58.00 to $47.00 in a report on Monday, July 18th. Finally, StockNews.com upgraded International Paper from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.80.

International Paper Profile

(Get Rating)

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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