Westbourne Investment Advisors Inc. raised its position in shares of International Paper Co (NYSE:IP) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,655 shares of the basic materials company’s stock after buying an additional 4,225 shares during the period. International Paper comprises about 2.2% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 11th largest holding. Westbourne Investment Advisors Inc.’s holdings in International Paper were worth $2,899,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Advisors LLC acquired a new stake in International Paper in the first quarter valued at $2,196,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in International Paper by 133.3% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the basic materials company’s stock valued at $162,000 after buying an additional 2,000 shares in the last quarter. American National Bank acquired a new stake in International Paper in the first quarter valued at $285,000. CAPROCK Group Inc. raised its stake in International Paper by 12.2% in the first quarter. CAPROCK Group Inc. now owns 9,368 shares of the basic materials company’s stock valued at $433,000 after buying an additional 1,015 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in International Paper in the first quarter valued at $515,000. Institutional investors and hedge funds own 81.58% of the company’s stock.
Shares of IP traded down $0.69 during midday trading on Monday, reaching $47.07. 71,958 shares of the stock were exchanged, compared to its average volume of 2,769,090. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.01 and a current ratio of 1.49. International Paper Co has a twelve month low of $37.55 and a twelve month high of $59.57. The stock has a market capitalization of $19.18 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.57.
In related news, insider John V. Sims sold 12,667 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $45.96, for a total transaction of $582,175.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP W. Michael Jr. Amick sold 9,093 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $47.65, for a total value of $433,281.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,760 shares of company stock worth $4,016,587. Corporate insiders own 0.32% of the company’s stock.
IP has been the topic of a number of research analyst reports. Barclays cut their target price on International Paper from $40.00 to $39.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Zacks Investment Research cut International Paper from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Royal Bank of Canada cut International Paper from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $54.00 to $47.00 in a research report on Friday, April 5th. Stephens upgraded International Paper from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $50.00 to $60.00 in a research report on Wednesday, January 23rd. Finally, Citigroup reiterated a “buy” rating and set a $53.00 target price on shares of International Paper in a research report on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.00.
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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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