APG Asset Management N.V. Sells 174,700 Shares of International Paper (NYSE:IP)

APG Asset Management N.V. lessened its holdings in International Paper (NYSE:IP) by 82.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,177 shares of the basic materials company’s stock after selling 174,700 shares during the quarter. APG Asset Management N.V.’s holdings in International Paper were worth $1,457,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the period. Innealta Capital LLC acquired a new position in shares of International Paper in the second quarter worth approximately $26,000. MCF Advisors LLC boosted its holdings in International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. Crewe Advisors LLC acquired a new stake in International Paper during the 1st quarter valued at approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in International Paper during the 4th quarter worth approximately $37,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 of the company’s stock, valued at approximately $2,433,296.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction that occurred 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 owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s 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 completion of the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at $1,843,383.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,840 shares of company stock worth $902,294. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IP. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. 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. Wells Fargo & Company lifted their price objective on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.21.

International Paper Stock Performance

Shares of IP stock opened at $48.85 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $47.38 and a two-hundred day simple moving average of $43.31. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The firm has a market capitalization of $16.97 billion, a PE ratio of 99.69 and a beta of 1.04.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. Analysts forecast that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.79%. International Paper’s payout ratio is 377.55%.

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.