Lmcg Investments LLC Sells 406 Shares of International Paper Company $IP

Lmcg Investments LLC trimmed its holdings in shares of International Paper Company (NYSE:IP) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,975 shares of the basic materials company’s stock after selling 406 shares during the quarter. Lmcg Investments LLC’s holdings in International Paper were worth $795,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IP. Rise Advisors LLC grew its position in International Paper by 281.3% during the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after buying an additional 346 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of International Paper in the first quarter worth approximately $34,000. Citizens National Bank Trust Department bought a new position in shares of International Paper in the first quarter worth approximately $37,000. Quintet Private Bank Europe S.A. bought a new position in shares of International Paper in the second quarter worth approximately $37,000. Finally, Grove Bank & Trust boosted its position in shares of International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 623 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IP shares. JPMorgan Chase & Co. lowered shares of International Paper from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Seaport Res Ptn lowered shares of International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Jefferies Financial Group dropped their price target on shares of International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, International Paper presently has an average rating of “Hold” and an average target price of $55.58.

International Paper Price Performance

IP stock opened at $45.83 on Friday. International Paper Company has a one year low of $43.27 and a one year high of $60.36. The company’s fifty day moving average price is $47.17 and its 200-day moving average price is $48.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The company has a market capitalization of $24.20 billion, a PE ratio of -458.30, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.64 billion. During the same period last year, the firm posted $0.55 EPS. International Paper’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, equities analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. International Paper’s dividend payout ratio is presently -1,850.00%.

Insider Transactions at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by insiders.

International Paper Company 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.