International Paper Company $IP Shares Bought by Cromwell Holdings LLC

Cromwell Holdings LLC raised its holdings in International Paper Company (NYSE:IP) by 29.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,353 shares of the basic materials company’s stock after acquiring an additional 304 shares during the period. Cromwell Holdings LLC’s holdings in International Paper were worth $63,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. raised its holdings in International Paper by 2.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock valued at $751,000 after acquiring an additional 282 shares during the last quarter. Spire Wealth Management raised its holdings in International Paper by 2,343.9% in the 1st quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 1,547 shares during the last quarter. MBB Public Markets I LLC acquired a new position in International Paper in the 1st quarter valued at $313,000. Goldman Sachs Group Inc. raised its holdings in International Paper by 78.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company’s stock valued at $259,310,000 after acquiring an additional 2,143,027 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of International Paper by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock worth $480,000 after buying an additional 231 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 0.8%

Shares of NYSE IP opened at $46.64 on Friday. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The company has a market cap of $24.62 billion, a P/E ratio of -466.40, a P/E/G ratio of 0.52 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $47.86 and a 200 day moving average price of $48.41.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. 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 was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, August 15th. International Paper’s dividend payout ratio is currently -1,850.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company restated an “underweight” rating and set a $43.00 price objective (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Jefferies Financial Group dropped their price objective on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, September 26th. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, August 18th. Finally, Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.02.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value 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 $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

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.