Greenwood Capital Associates LLC Has $1.23 Million Stock Holdings in International Paper Company $IP

Greenwood Capital Associates LLC cut its stake in shares of International Paper Company (NYSE:IP) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,276 shares of the basic materials company’s stock after selling 435 shares during the period. Greenwood Capital Associates LLC’s holdings in International Paper were worth $1,231,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IP. NBC Securities Inc. boosted its position in International Paper by 187,300.0% during the first quarter. NBC Securities Inc. now owns 1,874 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 1,873 shares during the last quarter. Merit Financial Group LLC boosted its position in International Paper by 24.6% during the first quarter. Merit Financial Group LLC now owns 8,615 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 1,700 shares during the last quarter. Sentry Investment Management LLC boosted its position in International Paper by 21.2% during the first quarter. Sentry Investment Management LLC now owns 1,679 shares of the basic materials company’s stock valued at $90,000 after purchasing an additional 294 shares during the last quarter. Chesley Taft & Associates LLC acquired a new position in International Paper during the first quarter valued at approximately $418,000. Finally, E. Ohman J or Asset Management AB boosted its position in International Paper by 31.1% during the first quarter. E. Ohman J or Asset Management AB now owns 21,100 shares of the basic materials company’s stock valued at $1,126,000 after purchasing an additional 5,000 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IP. Jefferies Financial Group cut their price objective on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. cut International Paper from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Finally, Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, International Paper has a consensus rating of “Hold” and a consensus target price of $56.02.

International Paper Stock Performance

NYSE:IP opened at $46.64 on Friday. The stock has a market cap of $24.62 billion, a P/E ratio of -466.40, a PEG ratio of 0.52 and a beta of 1.10. The stock has a 50 day simple moving average of $47.86 and a 200 day simple moving average of $48.41. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36.

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

International Paper Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred on 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 sale, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

International Paper Company 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.