International Paper (NYSE:IP) Shares Sold by Synovus Financial Corp

Synovus Financial Corp trimmed its position in International Paper (NYSE:IPGet Rating) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,477 shares of the basic materials company’s stock after selling 1,931 shares during the period. Synovus Financial Corp’s holdings in International Paper were worth $1,126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IP. State Street Corp increased its holdings in shares of International Paper by 0.9% in the first quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock valued at $1,124,403,000 after buying an additional 218,754 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of International Paper by 7.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,506,475 shares of the basic materials company’s stock valued at $300,274,000 after buying an additional 450,484 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of International Paper by 0.5% in the third quarter. Nordea Investment Management AB now owns 5,963,318 shares of the basic materials company’s stock valued at $193,987,000 after buying an additional 27,986 shares in the last quarter. Pictet Asset Management SA increased its holdings in shares of International Paper by 35.7% in the second quarter. Pictet Asset Management SA now owns 5,057,703 shares of the basic materials company’s stock valued at $211,564,000 after buying an additional 1,329,598 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of International Paper by 7.6% in the second quarter. Northern Trust Corp now owns 4,642,484 shares of the basic materials company’s stock valued at $194,196,000 after buying an additional 328,208 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IP. Bank of America dropped their price target on International Paper from $46.00 to $37.00 in a report on Thursday, October 13th. Deutsche Bank Aktiengesellschaft downgraded International Paper from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $44.00 to $29.00 in a research note on Tuesday, October 18th. BMO Capital Markets reduced their price target on shares of International Paper from $60.00 to $50.00 in a research report on Friday, October 28th. KeyCorp lowered their price objective on shares of International Paper from $37.00 to $27.00 and set an “underweight” rating on the stock in a research report on Friday, September 30th. Finally, StockNews.com initiated coverage on shares of International Paper in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, International Paper presently has an average rating of “Hold” and a consensus target price of $34.67.

International Paper Stock Up 1.2 %

IP stock opened at $36.64 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The firm has a market cap of $13.03 billion, a PE ratio of 6.98 and a beta of 1.01. International Paper has a 1 year low of $30.69 and a 1 year high of $50.23. The company has a fifty day simple moving average of $35.53 and a 200 day simple moving average of $37.90.

International Paper (NYSE:IPGet Rating) last released its quarterly earnings results on Thursday, October 27th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.21). International Paper had a return on equity of 15.47% and a net margin of 9.14%. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.32 billion. Sell-side analysts anticipate that International Paper will post 3.7 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Monday, November 14th. International Paper’s payout ratio is 35.24%.

Insider Buying and Selling

In other International Paper news, SVP Timothy S. Nicholls sold 7,500 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $33.66, for a total transaction of $252,450.00. Following the completion of the transaction, the senior vice president now owns 101,897 shares of the company’s stock, valued at approximately $3,429,853.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Thomas J. Plath sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $36.00, for a total transaction of $72,000.00. Following the transaction, the senior vice president now owns 49,953 shares of the company’s stock, valued at $1,798,308. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Timothy S. Nicholls sold 7,500 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $33.66, for a total transaction of $252,450.00. Following the completion of the sale, the senior vice president now directly owns 101,897 shares of the company’s stock, valued at $3,429,853.02. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

International Paper Profile

(Get Rating)

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.

Further Reading

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

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