International Paper Company $IP Position Lessened by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its position in shares of International Paper Company (NYSE:IP) by 17.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,238 shares of the basic materials company’s stock after selling 1,958 shares during the period. Prime Capital Investment Advisors LLC’s holdings in International Paper were worth $433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in International Paper by 52.0% during the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after acquiring an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of International Paper by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock valued at $2,763,426,000 after purchasing an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of International Paper by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company’s stock valued at $914,712,000 after purchasing an additional 2,782,042 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of International Paper by 21.4% during the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock valued at $481,203,000 after purchasing an additional 1,590,137 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of International Paper by 1.1% during the 1st quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock valued at $428,941,000 after purchasing an additional 85,732 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

International Paper Trading Down 1.3%

International Paper stock opened at $45.83 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The business’s 50-day simple moving average is $47.17 and its 200-day simple moving average is $48.14. The firm has a market capitalization of $24.20 billion, a PE ratio of -458.30, a PEG ratio of 0.52 and a beta of 1.10. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 42.9% on a year-over-year basis. Equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper’s payout ratio is presently -1,850.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group cut their target price on International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $44.00 and gave the company an “underweight” rating in a research note on Tuesday. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of International Paper in a research report on Saturday, September 27th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, International Paper has an average rating of “Hold” and an average price target of $55.58.

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.