Alpine Global Management LLC Purchases Shares of 9,310 International Paper (NYSE:IP)

Alpine Global Management LLC bought a new stake in International Paper (NYSE:IP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,310 shares of the basic materials company's stock, valued at approximately $501,000.

A number of other institutional investors also recently modified their holdings of the business. Sierra Ocean LLC acquired a new stake in International Paper during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of International Paper during the 4th quarter valued at $26,000. Picton Mahoney Asset Management grew its holdings in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after purchasing an additional 295 shares during the period. Finally, Bernard Wealth Management Corp. bought a new position in shares of International Paper in the fourth quarter worth $37,000. Institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on IP. Wall Street Zen downgraded shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Wells Fargo & Company restated an "underweight" rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $53.86.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

International Paper Trading Down 0.8%

NYSE:IP traded down $0.37 on Wednesday, reaching $48.19. 1,153,188 shares of the stock traded hands, compared to its average volume of 7,735,815. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 1-year low of $41.50 and a 1-year high of $60.36. The company's 50 day moving average is $48.34 and its 200-day moving average is $53.03. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. Equities research analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's dividend payout ratio (DPR) is presently 158.12%.

International Paper Company 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.