Atlas Brown Inc. Has $261,000 Position in International Paper (NYSE:IP)

Atlas Brown Inc. raised its holdings in International Paper (NYSE:IPGet Rating) by 41.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,250 shares of the basic materials company’s stock after acquiring an additional 1,836 shares during the quarter. Atlas Brown Inc.’s holdings in International Paper were worth $261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. James Reed Financial Services Inc. acquired a new stake in International Paper in the 4th quarter valued at $52,000. Bivin & Associates Inc. bought a new position in shares of International Paper in the 4th quarter valued at about $30,000. Desjardins Global Asset Management Inc. grew its position in shares of International Paper by 45.5% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 211 shares during the period. Mystic Asset Management Inc. bought a new position in shares of International Paper in the 4th quarter valued at about $42,000. Finally, Westside Investment Management Inc. grew its position in shares of International Paper by 112.4% in the 1st quarter. Westside Investment Management Inc. now owns 945 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 500 shares during the period. 85.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup downgraded shares of International Paper from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $53.00 to $46.00 in a research report on Tuesday, June 21st. KeyCorp decreased their price objective on shares of International Paper from $41.00 to $37.00 and set an “underweight” rating for the company in a research report on Friday, July 1st. Jefferies Financial Group downgraded shares of International Paper from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $40.00 to $31.00 in a research report on Friday, September 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of International Paper from $48.00 to $44.00 in a report on Tuesday, July 19th. Finally, Wells Fargo & Company downgraded shares of International Paper from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $58.00 to $47.00 in a report on Monday, July 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.40.

International Paper Stock Performance

NYSE IP traded down $0.97 during trading on Friday, reaching $32.84. The company’s stock had a trading volume of 157,745 shares, compared to its average volume of 2,849,026. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 7.03 and a beta of 0.90. International Paper has a 12 month low of $33.55 and a 12 month high of $57.86. The firm has a 50 day moving average price of $41.67 and a 200 day moving average price of $44.21.

International Paper (NYSE:IPGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. The firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.35 billion. International Paper had a net margin of 8.60% and a return on equity of 17.25%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 EPS. As a group, equities analysts anticipate that International Paper will post 4.54 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend was Friday, August 12th. International Paper’s dividend payout ratio is currently 38.46%.

Insider Buying and Selling at International Paper

In other news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.25, for a total value of $167,270,477.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

About International Paper

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International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Further Reading

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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