International Paper (NYSE:IP) Holdings Reduced by Independence Bank of Kentucky

Independence Bank of Kentucky decreased its position in International Paper (NYSE:IP) by 47.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,675 shares of the basic materials company’s stock after selling 1,511 shares during the period. Independence Bank of Kentucky’s holdings in International Paper were worth $65,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IP. Franklin Resources Inc. lifted its position 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 acquiring an additional 4,960,005 shares in the last quarter. Norges Bank purchased a new stake in shares of International Paper in the 4th quarter valued at approximately $94,913,000. AQR Capital Management LLC lifted its position in shares of International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after acquiring an additional 777,273 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of International Paper by 138.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 682,775 shares of the basic materials company’s stock valued at $24,218,000 after acquiring an additional 396,427 shares in the last quarter. Finally, ING Groep NV lifted its position in shares of International Paper by 74.2% in the 4th quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock valued at $29,952,000 after acquiring an additional 352,934 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IP shares. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Wells Fargo & Company increased their target price on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.71.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the transaction, the director now owns 43,402 shares in the company, valued at approximately $1,957,864.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 3,600 shares of company stock worth $144,744. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Performance

NYSE:IP traded down $0.10 during midday trading on Friday, reaching $43.15. The stock had a trading volume of 11,239,874 shares, compared to its average volume of 5,787,934. The stock has a market capitalization of $14.99 billion, a P/E ratio of 88.10 and a beta of 1.06. International Paper has a 1-year low of $30.78 and a 1-year high of $47.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The firm’s fifty day simple moving average is $41.76 and its 200-day simple moving average is $38.37.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. On average, equities research analysts forecast that International Paper will post 1.85 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.29%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

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.