Rockefeller Capital Management L.P. Purchases Shares of 3,553 International Paper Co (NYSE:IP)

Rockefeller Capital Management L.P. purchased a new position in International Paper Co (NYSE:IP) in the 1st quarter, Holdings Channel reports. The fund purchased 3,553 shares of the basic materials company’s stock, valued at approximately $164,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MML Investors Services LLC grew its stake in shares of International Paper by 19.4% during the 1st quarter. MML Investors Services LLC now owns 58,768 shares of the basic materials company’s stock valued at $2,719,000 after acquiring an additional 9,539 shares during the period. Azimuth Capital Management LLC grew its stake in shares of International Paper by 13.4% during the 1st quarter. Azimuth Capital Management LLC now owns 70,518 shares of the basic materials company’s stock valued at $3,263,000 after acquiring an additional 8,340 shares during the period. Empowered Funds LLC bought a new position in shares of International Paper during the 1st quarter valued at approximately $2,546,000. Empirical Finance LLC bought a new position in shares of International Paper during the 1st quarter valued at approximately $1,024,000. Finally, Bank of Hawaii grew its stake in shares of International Paper by 6.8% during the 1st quarter. Bank of Hawaii now owns 12,778 shares of the basic materials company’s stock valued at $591,000 after acquiring an additional 808 shares during the period. 81.32% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Thomas J. Plath sold 1,000 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $45.17, for a total transaction of $45,170.00. Following the completion of the transaction, the senior vice president now directly owns 30,671 shares in the company, valued at approximately $1,385,409.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jeanmichel Ribieras sold 5,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $46.85, for a total value of $234,250.00. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Several research analysts have weighed in on IP shares. UBS Group dropped their price target on International Paper from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Bank of America downgraded International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Barclays dropped their price target on International Paper from $40.00 to $39.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. Royal Bank of Canada downgraded International Paper from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $54.00 to $47.00 in a research note on Friday, April 5th. Finally, Citigroup upped their price target on International Paper from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. International Paper has an average rating of “Hold” and an average target price of $53.00.

NYSE IP opened at $43.92 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 1.37. The company has a market cap of $17.29 billion, a PE ratio of 8.26, a PEG ratio of 1.69 and a beta of 1.54. International Paper Co has a one year low of $37.55 and a one year high of $57.57.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The firm had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.73 billion. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. On average, sell-side analysts expect that International Paper Co will post 5.15 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.55%. International Paper’s dividend payout ratio is currently 37.59%.

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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.

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

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