Frank Rimerman Advisors LLC Sells 3,438 Shares of International Paper Company $IP

Frank Rimerman Advisors LLC lowered its position in International Paper Company (NYSE:IP) by 42.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,682 shares of the basic materials company’s stock after selling 3,438 shares during the period. Frank Rimerman Advisors LLC’s holdings in International Paper were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IP. Gentry Private Wealth LLC increased its holdings in International Paper by 2.1% during the 2nd quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 188 shares in the last quarter. Wright Investors Service Inc. grew its holdings in shares of International Paper by 2.9% during the second quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 201 shares during the last quarter. Wellington Shields Capital Management LLC increased its stake in shares of International Paper by 7.0% in the second quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock valued at $162,000 after buying an additional 226 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of International Paper by 10.1% in the second quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after buying an additional 259 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in International Paper by 3.1% during the 1st quarter. IFP Advisors Inc now owns 9,224 shares of the basic materials company’s stock worth $496,000 after buying an additional 275 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research analyst reports. Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Weiss Ratings lowered shares of International Paper from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Jefferies Financial Group reduced their price objective on International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, September 26th. BNP Paribas Exane decreased their price objective on International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research report on Wednesday, October 8th. Finally, Seaport Res Ptn downgraded International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.92.

International Paper Price Performance

IP opened at $37.65 on Friday. The company has a fifty day moving average price of $43.48 and a two-hundred day moving average price of $46.79. The firm has a market capitalization of $19.88 billion, a PE ratio of -376.50, a P/E/G ratio of 0.54 and a beta of 1.12. International Paper Company has a 52 week low of $35.56 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33.

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

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s payout ratio is currently -70.88%.

Insider Activity at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares in the company, valued at $1,259,951.69. This trade represents a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

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.