Cowa LLC Increases Stock Holdings in International Paper (NYSE:IP)

Cowa LLC boosted its position in International Paper (NYSE:IPGet Rating) by 37.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,021 shares of the basic materials company’s stock after purchasing an additional 2,732 shares during the quarter. Cowa LLC’s holdings in International Paper were worth $463,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Guggenheim Capital LLC increased its holdings in shares of International Paper by 8.7% during the fourth quarter. Guggenheim Capital LLC now owns 219,302 shares of the basic materials company’s stock valued at $10,303,000 after acquiring an additional 17,559 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of International Paper by 16.4% during the first quarter. Quadrant Capital Group LLC now owns 2,637 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 372 shares in the last quarter. Sentry Investment Management LLC increased its holdings in shares of International Paper by 12.4% during the first quarter. Sentry Investment Management LLC now owns 3,060 shares of the basic materials company’s stock valued at $141,000 after acquiring an additional 337 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of International Paper during the fourth quarter valued at $97,949,000. Finally, Bivin & Associates Inc. bought a new position in shares of International Paper during the fourth quarter valued at $30,000. Institutional investors own 85.84% of the company’s stock.

International Paper Stock Down 4.0 %

Shares of IP opened at $40.49 on Wednesday. The business’s 50 day moving average is $42.52 and its 200 day moving average is $44.51. The company has a market capitalization of $14.66 billion, a PE ratio of 8.42 and a beta of 0.90. International Paper has a 12-month low of $40.13 and a 12-month high of $58.76. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58.

International Paper (NYSE:IPGet Rating) last issued its earnings results on Thursday, July 28th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.13. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.35 billion. International Paper had a return on equity of 17.25% and a net margin of 8.60%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. Research analysts expect that International Paper will post 4.54 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, August 12th. International Paper’s payout ratio is 38.46%.

Insiders Place Their Bets

In other International Paper news, major shareholder Paper Co /New/ International sold 4,614,358 shares of International Paper stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $36.25, for a total value of $167,270,477.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup downgraded International Paper from a “buy” rating to a “neutral” rating and reduced their price target for the company from $53.00 to $46.00 in a report on Tuesday, June 21st. KeyCorp dropped their target price on International Paper from $41.00 to $37.00 and set an “underweight” rating on the stock in a research report on Friday, July 1st. Wells Fargo & Company cut International Paper from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $58.00 to $47.00 in a research report on Monday, July 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on International Paper from $48.00 to $44.00 in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, International Paper has an average rating of “Hold” and an average price target of $50.80.

International Paper Profile

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International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

See Also

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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