Gideon Capital Advisors Inc. Boosts Position in International Paper Co (IP)

Gideon Capital Advisors Inc. boosted its stake in shares of International Paper Co (NYSE:IP) by 405.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,293 shares of the basic materials company’s stock after buying an additional 26,702 shares during the quarter. International Paper makes up approximately 0.8% of Gideon Capital Advisors Inc.’s portfolio, making the stock its 17th largest holding. Gideon Capital Advisors Inc.’s holdings in International Paper were worth $1,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pictet Asset Management Ltd. boosted its position in shares of International Paper by 15.3% in the third quarter. Pictet Asset Management Ltd. now owns 1,242,276 shares of the basic materials company’s stock valued at $61,058,000 after acquiring an additional 164,943 shares during the period. D.A. Davidson & CO. boosted its position in shares of International Paper by 17.2% in the third quarter. D.A. Davidson & CO. now owns 315,526 shares of the basic materials company’s stock valued at $15,508,000 after acquiring an additional 46,241 shares during the period. Redwood Investment Management LLC boosted its position in shares of International Paper by 29.5% in the third quarter. Redwood Investment Management LLC now owns 5,515 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 1,256 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of International Paper by 19.2% in the third quarter. Pinnacle Associates Ltd. now owns 8,262 shares of the basic materials company’s stock valued at $406,000 after acquiring an additional 1,330 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of International Paper by 6.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 197,759 shares of the basic materials company’s stock valued at $10,297,000 after acquiring an additional 12,580 shares during the period. Institutional investors own 81.92% of the company’s stock.

Shares of IP opened at $44.91 on Monday. The company has a market capitalization of $18.19 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.89 and a beta of 1.53. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 1.52. International Paper Co has a 1-year low of $39.60 and a 1-year high of $66.94.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.09. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.90 billion. International Paper had a net margin of 13.68% and a return on equity of 29.75%. On average, analysts anticipate that International Paper Co will post 5.31 EPS for the current fiscal year.

International Paper declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 9th that permits the company to repurchase $430.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a $0.50 dividend. This is an increase from International Paper’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Wednesday, November 14th. International Paper’s dividend payout ratio (DPR) is currently 57.31%.

In other International Paper news, SVP John V. Sims sold 4,725 shares of International Paper stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $54.35, for a total transaction of $256,803.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Timothy S. Nicholls sold 17,000 shares of International Paper stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $52.53, for a total transaction of $893,010.00. Following the transaction, the insider now directly owns 108,538 shares in the company, valued at $5,701,501.14. The disclosure for this sale can be found here. Insiders sold 31,725 shares of company stock worth $1,691,814 over the last ninety days. 0.32% of the stock is currently owned by insiders.

A number of research firms have recently commented on IP. Zacks Investment Research lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Barclays cut their price objective on shares of International Paper from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Monday, July 30th. Stephens set a $57.00 price objective on shares of International Paper and gave the company a “hold” rating in a research report on Tuesday, September 11th. ValuEngine lowered shares of International Paper from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 3rd. Finally, BMO Capital Markets lowered shares of International Paper from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $66.00 to $51.00 in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $58.07.

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About International Paper

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including 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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