Amalgamated Bank Lowers Position in International Paper (NYSE:IP)

Amalgamated Bank cut its holdings in shares of International Paper (NYSE:IPGet Rating) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,140 shares of the basic materials company’s stock after selling 7,273 shares during the quarter. Amalgamated Bank’s holdings in International Paper were worth $4,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. James Reed Financial Services Inc. purchased a new position in International Paper during the 4th quarter valued at about $52,000. Bivin & Associates Inc. purchased a new position in International Paper during the 4th quarter valued at about $30,000. Desjardins Global Asset Management Inc. boosted its holdings in International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 211 shares during the period. Mystic Asset Management Inc. acquired a new stake in International Paper in the 4th quarter valued at about $42,000. Finally, Westside Investment Management Inc. raised its position in International Paper by 112.4% in the 1st quarter. Westside Investment Management Inc. now owns 945 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 500 shares in the last quarter. 85.84% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 4.6 %

IP opened at $34.83 on Wednesday. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 7.24 and a beta of 0.90. International Paper has a 52 week low of $34.43 and a 52 week high of $57.86. The business’s 50 day moving average is $42.15 and its two-hundred day moving average is $44.40. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

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

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.85 annualized dividend and a dividend yield of 5.31%. International Paper’s dividend payout ratio (DPR) is currently 38.46%.

Insider Buying and Selling at International Paper

In other International Paper news, major shareholder Paper Co /New/ International sold 4,614,358 shares of International Paper stock in a transaction that occurred on 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 the SEC website. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of a number of analyst reports. KeyCorp reduced their price target on International Paper from $41.00 to $37.00 and set an “underweight” rating on the stock in a research report on Friday, July 1st. Wells Fargo & Company lowered International Paper from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $58.00 to $47.00 in a research report on Monday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price target on International Paper from $48.00 to $44.00 in a research report on Tuesday, July 19th. Jefferies Financial Group lowered International Paper from a “hold” rating to an “underperform” rating and reduced their price target for the company from $40.00 to $31.00 in a research report on Friday, September 16th. Finally, Citigroup lowered International Paper from a “buy” rating to a “neutral” rating and cut their target price for the stock from $53.00 to $46.00 in a research report on Tuesday, June 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.40.

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.

See Also

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

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