Crossmark Global Holdings Inc. Sells 4,448 Shares of International Paper (NYSE:IP)

Crossmark Global Holdings Inc. lowered its position in International Paper (NYSE:IP) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,545 shares of the basic materials company’s stock after selling 4,448 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in International Paper were worth $1,059,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares in the last quarter. Norges Bank purchased a new stake in International Paper during the fourth quarter valued at approximately $94,913,000. Finally, ING Groep NV boosted its stake in International Paper by 74.2% in the fourth quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock valued at $29,952,000 after acquiring an additional 352,934 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,000 shares of company stock valued at $573,822. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $48.42 on Friday. International Paper has a 52-week low of $31.76 and a 52-week high of $49.24. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock has a market cap of $16.82 billion, a PE ratio of 98.82 and a beta of 1.06. The business has a 50-day simple moving average of $45.69 and a 200-day simple moving average of $41.30.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. On average, equities analysts expect that International Paper will post 1.64 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.82%. International Paper’s dividend payout ratio is presently 377.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IP. Royal Bank of Canada upped their price target on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus initiated coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.