Transcend Capital Advisors LLC Lowers Holdings in International Paper (NYSE:IP)

Transcend Capital Advisors LLC decreased its holdings in International Paper (NYSE:IPGet Rating) by 26.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,399 shares of the basic materials company’s stock after selling 2,359 shares during the quarter. Transcend Capital Advisors LLC’s holdings in International Paper were worth $268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IP. Norges Bank purchased a new position in shares of International Paper in the fourth quarter valued at approximately $188,782,000. BlackRock Inc. lifted its stake in International Paper by 12.1% in the first quarter. BlackRock Inc. now owns 35,263,405 shares of the basic materials company’s stock worth $1,627,407,000 after acquiring an additional 3,811,743 shares during the last quarter. Greenhaven Associates Inc. lifted its stake in International Paper by 196.0% in the first quarter. Greenhaven Associates Inc. now owns 4,995,325 shares of the basic materials company’s stock worth $230,534,000 after acquiring an additional 3,307,625 shares during the last quarter. Nordea Investment Management AB lifted its stake in International Paper by 21.7% in the first quarter. Nordea Investment Management AB now owns 6,272,540 shares of the basic materials company’s stock worth $291,485,000 after acquiring an additional 1,118,816 shares during the last quarter. Finally, Cowa LLC lifted its stake in International Paper by 13,649.1% in the first quarter. Cowa LLC now owns 1,002,172 shares of the basic materials company’s stock worth $463,000 after acquiring an additional 994,883 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

International Paper Stock Performance

Shares of International Paper stock opened at $34.26 on Thursday. The firm’s fifty day simple moving average is $41.83 and its 200-day simple moving average is $44.26. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 7.12 and a beta of 0.90. International Paper has a 12 month low of $34.24 and a 12 month high of $57.86. 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 (NYSE:IPGet Rating) last announced its earnings results on Thursday, July 28th. The basic materials company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. The business had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.35 billion. International Paper had a net margin of 8.60% and a return on equity of 17.25%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 EPS. As a group, equities analysts forecast that International Paper will post 4.54 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently disclosed 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 was Friday, August 12th. This represents a $1.85 annualized dividend and a yield of 5.40%. International Paper’s dividend payout ratio is currently 38.46%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at International Paper

In other International Paper news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.

International Paper 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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