CCM Investment Advisers LLC Increases Stake in International Paper Co (IP)

CCM Investment Advisers LLC increased its position in shares of International Paper Co (NYSE:IP) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 168,663 shares of the basic materials company’s stock after buying an additional 9,258 shares during the period. CCM Investment Advisers LLC’s holdings in International Paper were worth $7,804,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IP. Oregon Public Employees Retirement Fund increased its stake in shares of International Paper by 4,091.6% during the fourth 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 position in shares of International Paper during the fourth quarter valued at $158,215,000. Ronna Sue Cohen increased its stake in shares of International Paper by 4,416.5% during the first quarter. Ronna Sue Cohen now owns 3,646,825 shares of the basic materials company’s stock valued at $3,647,000 after buying an additional 3,566,080 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of International Paper by 67.3% during the fourth 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. Finally, Millennium Management LLC increased its stake in shares of International Paper by 202.1% during the fourth quarter. Millennium Management LLC now owns 1,379,593 shares of the basic materials company’s stock valued at $55,680,000 after buying an additional 922,860 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

In related news, SVP Jeanmichel Ribieras sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total transaction of $234,250.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP W. Michael Jr. Amick sold 9,093 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $47.65, for a total value of $433,281.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,760 shares of company stock worth $4,250,837. 0.33% of the stock is owned by corporate insiders.

IP has been the topic of several research reports. Barclays cut their price target on International Paper from $40.00 to $39.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Royal Bank of Canada lowered International Paper from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $54.00 to $47.00 in a research note on Friday, April 5th. Zacks Investment Research lowered International Paper from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Stephens upgraded International Paper from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $50.00 to $60.00 in a research note on Wednesday, January 23rd. Finally, Citigroup restated a “buy” rating and set a $53.00 price target on shares of International Paper in a research note on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $53.00.

Shares of IP stock opened at $45.62 on Thursday. International Paper Co has a 1-year low of $37.55 and a 1-year high of $59.57. The stock has a market cap of $18.91 billion, a P/E ratio of 8.58, a P/E/G ratio of 1.82 and a beta of 1.55. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.96 and a current ratio of 1.43.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The company had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts anticipate that International Paper Co will post 5.17 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this news story on another site, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this news story can be read at https://www.chaffeybreeze.com/2019/05/09/ccm-investment-advisers-llc-increases-stake-in-international-paper-co-ip.html.

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.

Recommended Story: What is the formula for calculating total return?

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Co (NYSE:IP).

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

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.