SevenBridge Financial Group LLC Lowers Position in International Paper Co (NYSE:IP)

SevenBridge Financial Group LLC trimmed its position in shares of International Paper Co (NYSE:IP) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,171 shares of the basic materials company’s stock after selling 1,392 shares during the quarter. SevenBridge Financial Group LLC’s holdings in International Paper were worth $311,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IP. Dimensional Fund Advisors LP lifted its stake in International Paper by 67.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock worth $167,264,000 after purchasing an additional 1,667,274 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of International Paper by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock worth $220,435,000 after buying an additional 384,793 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of International Paper by 12.2% in the 4th quarter. Cetera Advisors LLC now owns 4,938 shares of the basic materials company’s stock worth $200,000 after buying an additional 537 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of International Paper by 2.0% in the 4th quarter. Macquarie Group Ltd. now owns 15,910 shares of the basic materials company’s stock worth $643,000 after buying an additional 310 shares during the last quarter. Finally, Actinver Wealth Management Inc. bought a new position in shares of International Paper in the 4th quarter worth $265,000. 81.22% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on IP. KeyCorp lowered shares of Masco from an “overweight” rating to a “sector weight” rating in a report on Thursday, July 25th. Royal Bank of Canada raised shares of Snap from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $10.00 to $17.00 in a report on Friday, April 5th. UBS Group reissued a “sell” rating on shares of in a report on Monday, June 24th. Bank of America lowered shares of Propetro from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Finally, Citigroup increased their price target on shares of Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.82.

Shares of IP stock traded down $0.44 on Wednesday, hitting $44.62. 63,803 shares of the company’s stock traded hands, compared to its average volume of 3,029,377. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 1.34. International Paper Co has a one year low of $37.55 and a one year high of $54.95. The firm’s fifty day moving average is $43.44. The stock has a market cap of $17.76 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.49.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.14. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the firm earned $1.19 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that International Paper Co will post 4.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s dividend payout ratio is currently 37.59%.

In other International Paper news, SVP Thomas J. Plath sold 1,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $45.17, for a total transaction of $45,170.00. Following the completion of the sale, the senior vice president now owns 30,671 shares of the company’s stock, valued at approximately $1,385,409.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the sale, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include 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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