Cidel Asset Management Inc. Lowers Stock Holdings in International Paper Company $IP

Cidel Asset Management Inc. lowered its position in International Paper Company (NYSE:IP) by 12.1% in the second quarter, Holdings Channel.com reports. The firm owned 6,315 shares of the basic materials company’s stock after selling 869 shares during the quarter. Cidel Asset Management Inc.’s holdings in International Paper were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Rise Advisors LLC lifted its position in International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 346 shares during the period. Zions Bancorporation National Association UT acquired a new stake in International Paper in the first quarter valued at about $34,000. Citizens National Bank Trust Department acquired a new stake in International Paper in the first quarter valued at about $37,000. Quintet Private Bank Europe S.A. acquired a new stake in International Paper in the second quarter valued at about $37,000. Finally, Private Wealth Asset Management LLC lifted its position in International Paper by 78.7% in the second quarter. Private Wealth Asset Management LLC now owns 997 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $44.00 and gave the company an “underweight” rating in a research report on Tuesday, October 7th. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Jefferies Financial Group reduced 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. Finally, BNP Paribas Exane reduced their price target on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $53.85.

International Paper Trading Up 0.1%

Shares of International Paper stock opened at $46.69 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The company has a market capitalization of $24.65 billion, a P/E ratio of -466.90, a P/E/G ratio of 0.57 and a beta of 1.10. The business has a 50 day moving average price of $47.14 and a 200 day moving average price of $47.82.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (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 for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 42.9% on a year-over-year basis. Sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper’s dividend payout ratio is currently -1,850.00%.

Insider Activity

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

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.