Sterling Capital Management LLC Lowers Stock Position in International Paper Company $IP

Sterling Capital Management LLC lessened its holdings in shares of International Paper Company (NYSE:IP) by 43.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,667 shares of the basic materials company’s stock after selling 13,406 shares during the period. Sterling Capital Management LLC’s holdings in International Paper were worth $631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC lifted its position in International Paper by 36.7% during the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares during the period. Rothschild Investment LLC increased its stake in shares of International Paper by 4.2% during the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock valued at $236,000 after purchasing an additional 242 shares in the last quarter. International Private Wealth Advisors LLC increased its stake in shares of International Paper by 4.1% during the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 243 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of International Paper by 3.3% during the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 244 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of International Paper by 3.3% during the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 267 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Scott Tozier purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $31.30 per share, with a total value of $313,000.00. Following the acquisition, the director directly owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is currently owned by insiders.

International Paper Stock Up 0.6%

International Paper stock opened at $38.32 on Thursday. International Paper Company has a 12 month low of $29.26 and a 12 month high of $56.13. The stock has a fifty day simple moving average of $33.95 and a two-hundred day simple moving average of $38.15. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of -6.02 and a beta of 0.94.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts predict that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.85 annualized dividend and a yield of 4.8%. International Paper’s dividend payout ratio is currently -29.09%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IP. Deutsche Bank Aktiengesellschaft began coverage on International Paper in a research note on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price target on the stock. Wells Fargo & Company raised International Paper from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $39.00 in a research note on Monday, May 4th. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. Finally, Citigroup reduced their price objective on shares of International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.