SG Americas Securities LLC Grows Stock Holdings in International Paper (NYSE:IP)

SG Americas Securities LLC lifted its position in shares of International Paper (NYSE:IP - Free Report) by 58.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,146 shares of the basic materials company's stock after buying an additional 13,332 shares during the quarter. SG Americas Securities LLC's holdings in International Paper were worth $1,928,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IP shares. Wells Fargo & Company reaffirmed an "underweight" rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective for the company. UBS Group initiated coverage on International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $54.54.

International Paper Trading Up 1.3%

International Paper stock traded up $0.59 during trading hours on Monday, hitting $46.48. The company had a trading volume of 2,613,553 shares, compared to its average volume of 7,299,807. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The firm has a market cap of $24.54 billion, a P/E ratio of 29.61, a P/E/G ratio of 0.39 and a beta of 1.04. The company has a 50-day moving average price of $47.17 and a two-hundred day moving average price of $52.01. International Paper has a 1 year low of $41.50 and a 1 year high of $60.36.

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

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Friday, May 23rd. International Paper's payout ratio is 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.