Levin Capital Strategies L.P. Purchases New Shares in International Paper Co (NYSE:IP)

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Levin Capital Strategies L.P. purchased a new stake in shares of International Paper Co (NYSE:IP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 77,261 shares of the basic materials company’s stock, valued at approximately $2,405,000.

A number of other institutional investors have also added to or reduced their stakes in IP. Capital Analysts LLC increased its position in International Paper by 0.9% during the fourth quarter. Capital Analysts LLC now owns 29,983 shares of the basic materials company’s stock valued at $1,381,000 after acquiring an additional 258 shares during the last quarter. Jacobi Capital Management LLC increased its position in International Paper by 6.9% during the fourth quarter. Jacobi Capital Management LLC now owns 4,555 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 294 shares during the last quarter. Buckingham Asset Management LLC increased its position in International Paper by 2.5% during the fourth quarter. Buckingham Asset Management LLC now owns 12,437 shares of the basic materials company’s stock valued at $573,000 after acquiring an additional 300 shares during the last quarter. Utah Retirement Systems increased its position in International Paper by 0.4% during the fourth quarter. Utah Retirement Systems now owns 74,917 shares of the basic materials company’s stock valued at $3,449,000 after acquiring an additional 300 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in International Paper by 6.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,032 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 325 shares during the last quarter. 81.12% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on IP shares. ValuEngine cut shares of International Paper from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Deutsche Bank cut their price objective on shares of International Paper from $46.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. KeyCorp cut their price objective on shares of International Paper from $38.00 to $29.00 and set an “underweight” rating on the stock in a research report on Thursday, April 9th. They noted that the move was a valuation call. Cfra cut their price target on shares of International Paper from $45.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Finally, Zacks Investment Research cut shares of International Paper from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $42.69.

In other International Paper news, SVP William Thomas Hamic sold 4,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $32.41, for a total transaction of $129,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray G. Young purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $32.09 per share, with a total value of $160,450.00. The disclosure for this purchase can be found here. 0.37% of the stock is owned by corporate insiders.

NYSE:IP traded up $0.71 during mid-day trading on Tuesday, reaching $35.44. The company’s stock had a trading volume of 1,496,626 shares, compared to its average volume of 2,717,053. International Paper Co has a 1 year low of $26.38 and a 1 year high of $47.64. The stock has a fifty day moving average of $32.83 and a 200-day moving average of $39.12. The firm has a market capitalization of $13.38 billion, a PE ratio of 21.52 and a beta of 1.34. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.44.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. International Paper had a net margin of 2.99% and a return on equity of 20.98%. The company had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts expect that International Paper Co will post 2.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 27th will be paid a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date is Tuesday, May 26th. International Paper’s dividend payout ratio (DPR) is presently 46.28%.

About International Paper

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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

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