Elo Mutual Pension Insurance Co Sells 1,323 Shares of International Paper (NYSE:IP)

Elo Mutual Pension Insurance Co lowered its stake in shares of International Paper (NYSE:IP) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 28,712 shares of the basic materials company’s stock after selling 1,323 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in International Paper were worth $1,239,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of IP. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Paper during the 4th quarter valued at about $37,000. Janney Montgomery Scott LLC increased its position in shares of International Paper by 20.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after purchasing an additional 17,516 shares during the last quarter. Wellington Management Group LLP increased its position in shares of International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of International Paper during the 1st quarter valued at about $1,312,000. Finally, Brookstone Capital Management increased its position in shares of International Paper by 1,759.4% during the 1st quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after purchasing an additional 237,837 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 2.5 %

Shares of IP opened at $48.71 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The company has a 50 day simple moving average of $47.00 and a two-hundred day simple moving average of $42.69. The firm has a market cap of $16.92 billion, a P/E ratio of 99.41 and a beta of 1.04.

International Paper (NYSE:IP) last announced its quarterly earnings data 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. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.59 EPS. The company’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Analyst Ratings Changes

Several equities research analysts have recently commented on IP shares. Royal Bank of Canada upped their price target on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus started coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Wells Fargo & Company increased their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the sale, the director now directly owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now directly owns 18,668 shares in the company, valued at approximately $882,996.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the transaction, the director now owns 42,202 shares of the company’s stock, valued at $1,843,383.36. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $927,956 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

International Paper 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.