Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its holdings in International Paper Co (NYSE:IP) by 7.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,812 shares of the basic materials company’s stock after selling 925 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in International Paper were worth $475,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Advisory Alpha LLC bought a new position in shares of International Paper in the first quarter valued at about $25,000. Citizens Financial Group Inc RI raised its holdings in International Paper by 138.4% during the 2nd quarter. Citizens Financial Group Inc RI now owns 801 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 465 shares during the last quarter. Phocas Financial Corp. bought a new stake in International Paper during the 2nd quarter worth about $446,000. CSat Investment Advisory L.P. raised its holdings in International Paper by 218.6% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,099 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 754 shares during the last quarter. Finally, Doyle Wealth Management bought a new stake in International Paper during the 2nd quarter worth about $56,000. 81.65% of the stock is owned by institutional investors and hedge funds.
Shares of IP stock traded up $1.60 on Friday, reaching $41.83. The company had a trading volume of 121,237 shares, compared to its average volume of 3,315,157. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 1.38. The stock has a market cap of $15.10 billion, a PE ratio of 7.86, a PEG ratio of 1.72 and a beta of 1.53. The company has a 50-day moving average of $39.92 and a 200-day moving average of $42.90. International Paper Co has a 12 month low of $36.45 and a 12 month high of $48.24.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.5125 dividend. The ex-dividend date is Thursday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.50. This represents a $2.05 dividend on an annualized basis and a dividend yield of 4.90%. International Paper’s dividend payout ratio is 37.59%.
In other news, SVP Sharon R. Ryan sold 22,507 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $44.97, for a total value of $1,012,139.79. Following the completion of the sale, the senior vice president now directly owns 61,554 shares of the company’s stock, valued at approximately $2,768,083.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy S. Nicholls sold 45,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $42.44, for a total value of $1,909,800.00. Following the completion of the sale, the senior vice president now directly owns 60,490 shares of the company’s stock, valued at $2,567,195.60. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Several analysts have weighed in on the company. Citigroup cut International Paper from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $53.00 to $45.00 in a report on Thursday, July 11th. KeyCorp reissued a “sell” rating and set a $38.00 price objective on shares of International Paper in a report on Thursday, July 25th. Wells Fargo & Co dropped their price objective on International Paper from $43.00 to $42.00 and set a “market perform” rating for the company in a report on Tuesday. UBS Group set a $50.00 price objective on International Paper and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Stephens cut International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a report on Monday, June 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $46.40.
International Paper Company Profile
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.
Further Reading: Mutual Funds
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