Kestra Private Wealth Services LLC Sells 1,250 Shares of International Paper (NYSE:IP)

Kestra Private Wealth Services LLC lessened its position in shares of International Paper (NYSE:IPGet Rating) by 10.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,186 shares of the basic materials company’s stock after selling 1,250 shares during the period. Kestra Private Wealth Services LLC’s holdings in International Paper were worth $470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M Holdings Securities Inc. purchased a new stake in shares of International Paper during the first quarter valued at approximately $218,000. Sawtooth Solutions LLC bought a new stake in International Paper during the 1st quarter valued at $340,000. The Manufacturers Life Insurance Company lifted its stake in International Paper by 1.0% in the first quarter. The Manufacturers Life Insurance Company now owns 320,426 shares of the basic materials company’s stock worth $14,788,000 after acquiring an additional 3,146 shares during the period. Magnolia Wealth Management LLC bought a new position in shares of International Paper in the 1st quarter worth approximately $1,334,000. Finally, Cowa LLC increased its stake in shares of International Paper by 37.5% during the first quarter. Cowa LLC now owns 10,021 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 2,732 shares in the last quarter. Institutional investors own 85.84% of the company’s stock.

International Paper Stock Up 3.7 %

Shares of NYSE:IP opened at $36.52 on Tuesday. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 7.32 and a beta of 0.90. The company has a 50 day moving average of $42.26 and a 200-day moving average of $44.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 1.18. International Paper has a one year low of $34.75 and a one year high of $57.86.

International Paper (NYSE:IPGet Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. International Paper had a return on equity of 17.25% and a net margin of 8.60%. The business had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. International Paper’s quarterly revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts forecast that International Paper will post 4.54 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were paid a $0.4625 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.07%. International Paper’s payout ratio is currently 38.46%.

Insider Activity at International Paper

In other news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was 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 SEC, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IP has been the subject of several analyst reports. Wells Fargo & Company lowered shares of International Paper from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $58.00 to $47.00 in a report on Monday, July 18th. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $53.00 to $46.00 in a research report on Tuesday, June 21st. KeyCorp lowered their target price on shares of International Paper from $41.00 to $37.00 and set an “underweight” rating on the stock in a research note on Friday, July 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of International Paper from $48.00 to $44.00 in a research note on Tuesday, July 19th. Finally, Jefferies Financial Group lowered International Paper from a “hold” rating to an “underperform” rating and decreased their target price for the company from $40.00 to $31.00 in a report on Friday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average price target of $48.40.

International Paper Company Profile

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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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