Greenleaf Trust Decreases Position in International Paper (NYSE:IP)

Greenleaf Trust decreased its holdings in shares of International Paper (NYSE:IP) by 38.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,862 shares of the basic materials company’s stock after selling 3,589 shares during the quarter. Greenleaf Trust’s holdings in International Paper were worth $212,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IP. Greenhaven Associates Inc. lifted its stake in International Paper by 0.3% in the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after buying an additional 25,640 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Paper by 13.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after buying an additional 1,011,315 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in International Paper in the third quarter valued at approximately $144,509,000. Northern Trust Corp lifted its stake in International Paper by 4.4% in the third quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock valued at $128,246,000 after buying an additional 151,084 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after buying an additional 777,273 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 2.6 %

Shares of IP stock opened at $33.52 on Friday. The business’s fifty day moving average price is $36.68 and its 200 day moving average price is $35.81. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The firm has a market capitalization of $11.64 billion, a PE ratio of 40.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. International Paper’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that International Paper will post 1.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research reports. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $42.00 in a research note on Monday, March 4th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Wells Fargo & Company dropped their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, International Paper has a consensus rating of “Hold” and an average target price of $37.13.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 8,800 shares of company stock valued at $310,438 over the last quarter. Company insiders own 0.55% of the company’s stock.

About International Paper

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.