Wellington Shields Capital Management LLC Cuts Position in International Paper Co (IP)

Wellington Shields Capital Management LLC lessened its holdings in International Paper Co (NYSE:IP) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,400 shares of the basic materials company’s stock after selling 2,030 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in International Paper were worth $511,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new stake in shares of International Paper during the 2nd quarter worth approximately $106,000. Squar Milner Financial Services LLC acquired a new stake in shares of International Paper during the 2nd quarter worth approximately $125,000. Flagship Harbor Advisors LLC acquired a new stake in shares of International Paper during the 2nd quarter worth approximately $139,000. Meeder Asset Management Inc. acquired a new stake in shares of International Paper during the 3rd quarter worth approximately $133,000. Finally, Diamant Asset Management Inc. acquired a new stake in shares of International Paper during the 3rd quarter worth approximately $140,000. Institutional investors own 82.24% of the company’s stock.

International Paper stock opened at $46.22 on Friday. International Paper Co has a 1 year low of $39.60 and a 1 year high of $66.94. The firm has a market capitalization of $19.19 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.94 and a beta of 1.53. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.13 and a current ratio of 1.59.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 25th. The basic materials company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.09. International Paper had a net margin of 13.68% and a return on equity of 29.75%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.90 billion. As a group, analysts forecast that International Paper Co will post 5.31 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $2.00 dividend on an annualized basis and a yield of 4.33%. This is a boost from International Paper’s previous quarterly dividend of $0.48. International Paper’s dividend payout ratio (DPR) is currently 54.44%.

International Paper declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 9th that permits the company to repurchase $430.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

A number of equities research analysts have recently commented on IP shares. ValuEngine cut shares of International Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Zacks Investment Research cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Goldman Sachs Group cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price objective on the stock. in a research note on Wednesday, October 10th. Stephens set a $57.00 price objective on shares of International Paper and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Finally, Seaport Global Securities started coverage on shares of International Paper in a research note on Tuesday, October 23rd. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $58.64.

In other International Paper news, SVP John V. Sims sold 4,725 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $54.35, for a total value of $256,803.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy S. Nicholls sold 17,000 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total value of $893,010.00. Following the completion of the transaction, the insider now owns 108,538 shares in the company, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. Insiders sold a total of 31,725 shares of company stock worth $1,691,814 in the last three months. 0.32% of the stock is owned by corporate insiders.

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International Paper Company Profile

International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including 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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