Meeder Asset Management Inc. Has $2.77 Million Stake in International Paper Co (IP)

Meeder Asset Management Inc. lessened its stake in shares of International Paper Co (NYSE:IP) by 5.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 59,851 shares of the basic materials company’s stock after selling 3,683 shares during the quarter. Meeder Asset Management Inc.’s holdings in International Paper were worth $2,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IP. Oregon Public Employees Retirement Fund raised its holdings in International Paper by 4,091.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,104,128 shares of the basic materials company’s stock valued at $102,000 after buying an additional 4,006,214 shares during the period. Norges Bank purchased a new stake in International Paper in the 4th quarter valued at about $158,215,000. Dimensional Fund Advisors LP raised its holdings in International Paper by 67.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,553 shares of the basic materials company’s stock valued at $167,264,000 after buying an additional 1,667,274 shares during the period. Millennium Management LLC grew its position in International Paper by 202.1% in the 4th quarter. Millennium Management LLC now owns 1,379,593 shares of the basic materials company’s stock valued at $55,680,000 after acquiring an additional 922,860 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in International Paper by 23.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,591,395 shares of the basic materials company’s stock valued at $185,310,000 after acquiring an additional 870,015 shares in the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.

Shares of International Paper stock opened at $44.91 on Wednesday. International Paper Co has a one year low of $37.55 and a one year high of $59.57. The stock has a market cap of $18.90 billion, a PE ratio of 8.44, a P/E/G ratio of 0.97 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.49 and a quick ratio of 1.01.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.65 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.04. International Paper had a return on equity of 30.83% and a net margin of 8.63%. The business had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.86 billion. On average, sell-side analysts predict that International Paper Co will post 5.13 earnings per share for the current year.

Several equities analysts have weighed in on IP shares. Stephens raised International Paper from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $50.00 to $60.00 in a research report on Wednesday, January 23rd. Zacks Investment Research downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. Deutsche Bank dropped their target price on International Paper from $55.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, January 17th. Wells Fargo & Co downgraded International Paper from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 9th. Finally, Royal Bank of Canada lifted their target price on International Paper to $54.00 and gave the company an “outperform” rating in a research report on Friday, February 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. International Paper currently has a consensus rating of “Hold” and an average target price of $53.00.

In other news, insider Jeanmichel Ribieras sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $47.15, for a total transaction of $471,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John V. Sims sold 12,667 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $45.96, for a total value of $582,175.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,760 shares of company stock valued at $4,016,587. Corporate insiders own 0.32% of the company’s stock.

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International Paper 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.

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

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