Institute for Wealth Management LLC. Lowers Holdings in International Paper Co (NYSE:IP)

Institute for Wealth Management LLC. trimmed its holdings in International Paper Co (NYSE:IP) by 8.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,875 shares of the basic materials company’s stock after selling 813 shares during the period. Institute for Wealth Management LLC.’s holdings in International Paper were worth $384,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its stake in International Paper by 4.9% during the first quarter. BlackRock Inc. now owns 38,343,898 shares of the basic materials company’s stock worth $1,774,172,000 after purchasing an additional 1,784,970 shares in the last quarter. Geode Capital Management LLC lifted its stake in International Paper by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 5,468,347 shares of the basic materials company’s stock worth $220,435,000 after purchasing an additional 384,793 shares in the last quarter. Clearbridge Investments LLC lifted its stake in International Paper by 2.1% during the first quarter. Clearbridge Investments LLC now owns 5,422,937 shares of the basic materials company’s stock worth $250,919,000 after purchasing an additional 113,013 shares in the last quarter. LSV Asset Management lifted its stake in International Paper by 7.2% during the first quarter. LSV Asset Management now owns 5,236,758 shares of the basic materials company’s stock worth $242,304,000 after purchasing an additional 352,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in International Paper by 67.3% during the fourth 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. Institutional investors own 82.02% of the company’s stock.

A number of research analysts have commented on IP shares. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $53.00 to $45.00 in a research note on Thursday, July 11th. Stephens cut International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price target on the stock. in a research note on Monday, June 24th. KeyCorp restated a “sell” rating and set a $38.00 price target on shares of International Paper in a research note on Thursday, July 25th. Finally, UBS Group set a $50.00 price target on International Paper and gave the stock a “buy” rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.82.

Shares of NYSE IP traded down $0.07 during mid-day trading on Tuesday, hitting $39.32. The company had a trading volume of 15,736 shares, compared to its average volume of 3,627,769. The company has a market capitalization of $15.32 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 1.72 and a beta of 1.49. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.46 and a quick ratio of 1.02. International Paper Co has a 1-year low of $37.55 and a 1-year high of $54.95. The business’s 50-day simple moving average is $42.29 and its 200 day simple moving average is $44.56.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.14. The business had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.77 billion. International Paper had a return on equity of 30.14% and a net margin of 6.88%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. On average, analysts expect that International Paper Co will post 4.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s payout ratio is currently 37.59%.

In other news, SVP Sharon R. Ryan sold 22,507 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $44.97, for a total value of $1,012,139.79. Following the sale, the senior vice president now directly owns 61,554 shares in the company, valued at $2,768,083.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

International Paper Profile

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.

Further Reading: What is the Coverage Ratio?

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

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