MAI Capital Management Sells 276 Shares of International Paper Company $IP

by · The Cerbat Gem

MAI Capital Management cut its stake in International Paper Company (NYSE:IP – Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,097 shares of the basic materials company’s stock after selling 276 shares during the quarter. MAI Capital Management’s holdings in International Paper were worth $1,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Greenleaf Trust increased its stake in shares of International Paper by 2.5% in the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock valued at $493,000 after acquiring an additional 224 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of International Paper by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock valued at $480,000 after acquiring an additional 231 shares during the last quarter. Csenge Advisory Group increased its stake in shares of International Paper by 1.5% in the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock valued at $867,000 after acquiring an additional 234 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of International Paper by 6.0% in the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 235 shares during the last quarter. Finally, Wimmer Associates 1 LLC increased its stake in shares of International Paper by 3.8% in the 4th quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company’s stock valued at $401,000 after acquiring an additional 270 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 1.1%

NYSE:IP opened at $49.12 on Wednesday. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $49.63 and a two-hundred day moving average price of $49.46. The company has a market cap of $25.93 billion, a P/E ratio of -491.20, a price-to-earnings-growth ratio of 0.56 and a beta of 1.05.

International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same period last year, the company earned $0.55 EPS. The company’s revenue was up 42.9% compared to the same quarter last year. As a group, analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.8%. International Paper’s dividend payout ratio is -1,850.00%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IP. JPMorgan Chase & Co. cut International Paper from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $57.00 in a research note on Thursday, August 28th. Wells Fargo & Company reissued an “underweight” rating and set a $43.00 target price (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Finally, Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.65.

Check Out Our Latest Analysis on International Paper

International Paper Company Profile

(Free Report)

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.

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