10,115 Shares in International Paper (NYSE:IP) Acquired by Cerity Partners LLC

Cerity Partners LLC purchased a new position in shares of International Paper (NYSE:IPGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,115 shares of the basic materials company’s stock, valued at approximately $422,000.

Several other large investors also recently made changes to their positions in IP. BlackRock Inc. increased its position in shares of 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 in the last quarter. Greenhaven Associates Inc. increased its position in shares of 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 in the last quarter. Pictet Asset Management SA increased its position in shares of International Paper by 35.7% in the second quarter. Pictet Asset Management SA now owns 5,057,703 shares of the basic materials company’s stock worth $211,564,000 after acquiring an additional 1,329,598 shares in the last quarter. Cowa LLC increased its position in shares of 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 in the last quarter. Finally, First Trust Advisors LP increased its position in shares of International Paper by 117.6% in the first quarter. First Trust Advisors LP now owns 1,591,552 shares of the basic materials company’s stock worth $73,450,000 after acquiring an additional 860,180 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IP shares. Jefferies Financial Group lowered shares of International Paper from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $40.00 to $31.00 in a research report on Friday, September 16th. Royal Bank of Canada decreased their target price on shares of International Paper from $38.00 to $36.00 and set a “sector perform” rating for the company in a research note on Friday, October 28th. Citigroup decreased their target price on shares of International Paper from $46.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, October 11th. BMO Capital Markets decreased their target price on shares of International Paper from $60.00 to $50.00 in a research note on Friday, October 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of International Paper from a “hold” rating to a “sell” rating and decreased their target price for the company from $44.00 to $29.00 in a research note on Tuesday, October 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, International Paper currently has a consensus rating of “Hold” and an average target price of $34.44.

International Paper Trading Up 0.1 %

NYSE IP opened at $35.77 on Friday. International Paper has a 12 month low of $30.69 and a 12 month high of $50.23. 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 capitalization of $12.72 billion, a price-to-earnings ratio of 6.81 and a beta of 0.99. The company’s fifty day moving average price is $34.03 and its two-hundred day moving average price is $40.59.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.85 dividend on an annualized basis and a yield of 5.17%. International Paper’s dividend payout ratio (DPR) is 35.24%.

Insiders Place Their Bets

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

About International Paper

(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.

Further Reading

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

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