DekaBank Deutsche Girozentrale Sells 19,718 Shares of International Paper (NYSE:IP)

DekaBank Deutsche Girozentrale reduced its holdings in shares of International Paper (NYSE:IP) by 15.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,637 shares of the basic materials company’s stock after selling 19,718 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in International Paper were worth $4,808,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after buying an additional 8,132,332 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Paper by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock valued at $824,716,000 after buying an additional 5,492,035 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after buying an additional 4,960,005 shares during the last quarter. Norges Bank acquired a new stake in shares of International Paper in the 4th quarter valued at approximately $94,913,000. Finally, Bank of Nova Scotia boosted its holdings in shares of International Paper by 413.9% in the 4th quarter. Bank of Nova Scotia now owns 436,494 shares of the basic materials company’s stock valued at $15,779,000 after buying an additional 351,559 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the transaction, the director now owns 42,802 shares in the company, valued at $1,830,641.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other International Paper news, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares in the company, valued at $882,996.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,440 shares of company stock worth $927,956. Company insiders own 0.55% of the company’s stock.

International Paper Stock Down 0.6 %

IP opened at $49.52 on Wednesday. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $50.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The company has a market capitalization of $17.20 billion, a P/E ratio of 101.06 and a beta of 1.04. The stock has a fifty day moving average of $46.62 and a 200-day moving average of $42.50.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.59 earnings per share. International Paper’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Thursday, August 15th. International Paper’s payout ratio is currently 377.55%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday, August 14th. Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target for the company. Finally, Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and raised their price target for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average price target of $50.21.

International Paper Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.