International Paper Company $IP Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lifted its holdings in International Paper Company (NYSE:IP) by 9.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,323,693 shares of the basic materials company’s stock after buying an additional 205,888 shares during the period. Westfield Capital Management Co. LP owned approximately 0.44% of International Paper worth $108,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its holdings in shares of International Paper by 47.3% in the first quarter. Mutual of America Capital Management LLC now owns 61,305 shares of the basic materials company’s stock valued at $3,271,000 after purchasing an additional 19,692 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of International Paper by 3.1% in the first quarter. IFP Advisors Inc now owns 9,224 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 275 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in International Paper by 57.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 40,471 shares of the basic materials company’s stock worth $2,159,000 after purchasing an additional 14,737 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in International Paper by 5.9% during the first quarter. HighPoint Advisor Group LLC now owns 6,182 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 342 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of International Paper by 25.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 231,509 shares of the basic materials company’s stock valued at $12,351,000 after buying an additional 46,633 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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 stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

International Paper Trading Up 0.3%

NYSE IP opened at $36.50 on Thursday. 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 firm has a market cap of $19.27 billion, a price-to-earnings ratio of -365.00, a PEG ratio of 0.54 and a beta of 1.12. The firm has a 50 day simple moving average of $43.87 and a 200-day simple moving average of $46.91. International Paper Company has a one year low of $35.79 and a one year high of $60.36.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm’s revenue was up 56.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. Equities research analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. International Paper’s dividend payout ratio is currently -70.88%.

Analysts Set New Price Targets

Several research firms have recently commented on IP. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. BNP Paribas Exane cut their price objective on International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a research report on Wednesday, October 8th. Seaport Res Ptn lowered shares of International Paper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of International Paper from $54.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.92.

About International Paper

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.