Swedbank AB Lowers Position in International Paper (NYSE:IP)

Swedbank AB trimmed its stake in shares of International Paper (NYSE:IP) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 109,884 shares of the basic materials company’s stock after selling 5,180 shares during the period. Swedbank AB’s holdings in International Paper were worth $5,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of IP. Creative Planning grew its holdings in International Paper by 6.6% during the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company’s stock valued at $3,562,000 after buying an additional 4,500 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of International Paper by 11.7% in the third quarter. Wesbanco Bank Inc. now owns 20,352 shares of the basic materials company’s stock valued at $994,000 after purchasing an additional 2,134 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in International Paper in the third quarter worth $88,000. Exchange Traded Concepts LLC raised its stake in International Paper by 677.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in International Paper by 429.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,576 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 2,900 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

IP opened at $46.78 on Friday. The business has a fifty day moving average of $47.94 and a 200 day moving average of $44.12. The stock has a market cap of $16.25 billion, a P/E ratio of 95.47 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68.

International Paper (NYSE:IP) last issued its 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 firm had revenue of $4.73 billion during 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 business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. As a group, sell-side analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Friday, November 15th. International Paper’s dividend payout ratio is presently 377.55%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 on the stock. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada raised their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.46.

Insider Activity at International Paper

In other news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total transaction of $27,660.00. Following the completion of the sale, the director now owns 41,002 shares in the company, valued at $1,890,192.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,440 shares of company stock worth $934,142. Company insiders own 0.55% of the company’s stock.

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.