Cornerstone Advisors Inc. Reduces Stake in International Paper Co (NYSE:IP)

Cornerstone Advisors Inc. lowered its stake in shares of International Paper Co (NYSE:IP) by 37.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 889 shares of the basic materials company’s stock after selling 526 shares during the period. Cornerstone Advisors Inc.’s holdings in International Paper were worth $31,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Evoke Wealth LLC lifted its stake in International Paper by 158.7% in the first quarter. Evoke Wealth LLC now owns 807 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 495 shares during the last quarter. Citizens Financial Group Inc RI raised its stake in shares of International Paper by 207.1% in the first quarter. Citizens Financial Group Inc RI now owns 823 shares of the basic materials company’s stock valued at $26,000 after buying an additional 555 shares during the period. St. Johns Investment Management Company LLC lifted its position in shares of International Paper by 1,555.6% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 745 shares of the basic materials company’s stock valued at $26,000 after buying an additional 700 shares during the last quarter. Balentine LLC bought a new position in shares of International Paper during the 1st quarter worth $28,000. Finally, Howe & Rusling Inc. bought a new position in shares of International Paper during the 2nd quarter worth $35,000. 81.06% of the stock is currently owned by institutional investors.

IP stock opened at $34.79 on Friday. The firm has a 50 day simple moving average of $35.29 and a two-hundred day simple moving average of $36.07. The stock has a market cap of $13.67 billion, a PE ratio of 21.74 and a beta of 1.33. International Paper Co has a one year low of $26.38 and a one year high of $47.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.79 and a quick ratio of 0.56.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.38. International Paper had a net margin of 2.98% and a return on equity of 19.18%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the firm posted $1.15 EPS. The firm’s revenue was down 14.1% compared to the same quarter last year. On average, research analysts expect that International Paper Co will post 1.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a yield of 5.89%. The ex-dividend date is Thursday, August 13th. International Paper’s dividend payout ratio (DPR) is currently 46.28%.

A number of equities analysts have weighed in on the stock. Cfra cut their target price on shares of International Paper from $45.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Thursday, July 16th. Zacks Investment Research cut shares of International Paper from a “hold” rating to a “sell” rating and set a $36.00 target price on the stock. in a report on Wednesday, May 27th. BofA Securities raised International Paper from a “neutral” rating to a “buy” rating in a report on Thursday, July 16th. Finally, ValuEngine upgraded International Paper from a “sell” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.50.

International Paper Company Profile

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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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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