International Paper Co (IP) Holdings Raised by Ronna Sue Cohen
Ronna Sue Cohen boosted its position in shares of International Paper Co (NYSE:IP) by 4,416.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,646,825 shares of the basic materials company’s stock after buying an additional 3,566,080 shares during the period. International Paper makes up approximately 2.5% of Ronna Sue Cohen’s investment portfolio, making the stock its 9th largest position. Ronna Sue Cohen owned about 0.91% of International Paper worth $3,647,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in IP. Oregon Public Employees Retirement Fund boosted its stake in shares of International Paper by 4,091.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,104,128 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 4,006,214 shares in the last quarter. Norges Bank acquired a new stake in shares of International Paper in the 4th quarter valued at approximately $158,215,000. Dimensional Fund Advisors LP boosted its stake in shares of International Paper by 67.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock valued at $167,264,000 after purchasing an additional 1,667,274 shares in the last quarter. Millennium Management LLC boosted its stake in shares of International Paper by 202.1% in the 4th quarter. Millennium Management LLC now owns 1,379,593 shares of the basic materials company’s stock valued at $55,680,000 after purchasing an additional 922,860 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of International Paper by 23.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,591,395 shares of the basic materials company’s stock valued at $185,310,000 after purchasing an additional 870,015 shares in the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
NYSE IP traded down $0.95 during mid-day trading on Wednesday, hitting $43.96. The company’s stock had a trading volume of 238,663 shares, compared to its average volume of 2,415,849. International Paper Co has a twelve month low of $37.55 and a twelve month high of $59.57. The company has a current ratio of 1.49, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The company has a market cap of $18.03 billion, a P/E ratio of 8.25, a PEG ratio of 0.97 and a beta of 1.57.
IP has been the subject of a number of research reports. Zacks Investment Research lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $49.00 price objective on shares of International Paper in a report on Tuesday, January 8th. Wells Fargo & Co lowered shares of International Paper from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 9th. Deutsche Bank dropped their price objective on shares of International Paper from $55.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, January 17th. Finally, Stephens upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $50.00 to $60.00 in a report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. International Paper has an average rating of “Hold” and a consensus price target of $53.00.
In other International Paper news, insider Timothy S. Nicholls sold 45,000 shares of International Paper stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $46.67, for a total transaction of $2,100,150.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP W. Michael Jr. Amick sold 9,093 shares of International Paper stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $47.65, for a total transaction of $433,281.45. The disclosure for this sale can be found here. In the last three months, insiders sold 85,760 shares of company stock valued at $4,016,587. 0.32% of the stock is currently owned by insiders.
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About International Paper
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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