Pettyjohn Wood & White Inc. Has $834,000 Holdings in International Paper Co (NYSE:IP)

Pettyjohn Wood & White Inc. cut its holdings in shares of International Paper Co (NYSE:IP) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,241 shares of the basic materials company’s stock after selling 2,450 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in International Paper were worth $834,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IP. Advisory Alpha LLC acquired a new position in shares of International Paper during the first quarter worth approximately $25,000. Bremer Bank National Association acquired a new position in shares of International Paper during the first quarter worth approximately $28,000. First Interstate Bank acquired a new position in shares of International Paper during the first quarter worth approximately $37,000. Hanson McClain Inc. lifted its holdings in shares of International Paper by 82.2% during the first quarter. Hanson McClain Inc. now owns 869 shares of the basic materials company’s stock worth $40,000 after buying an additional 392 shares during the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in shares of International Paper during the first quarter worth approximately $47,000. Institutional investors own 81.75% of the company’s stock.

In other International Paper news, SVP Sharon R. Ryan sold 22,507 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 61,554 shares in the company, valued at $2,768,083.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

A number of brokerages recently commented on IP. KeyCorp restated a “sell” rating and issued a $38.00 target price on shares of International Paper in a research note on Thursday, July 25th. Citigroup lowered International Paper from a “buy” rating to a “neutral” rating and cut their target price for the company from $53.00 to $45.00 in a research note on Thursday, July 11th. UBS Group set a $50.00 target price on International Paper and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Stephens lowered International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 target price for the company. in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.82.

Shares of NYSE IP traded up $0.36 during trading hours on Friday, reaching $38.99. The stock had a trading volume of 2,599,100 shares, compared to its average volume of 3,625,653. The business’s fifty day moving average is $42.55 and its two-hundred day moving average is $44.65. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.46 and a quick ratio of 1.02. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 1.68 and a beta of 1.49. International Paper Co has a twelve month low of $37.55 and a twelve month high of $54.95.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 25th. The basic materials company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.77 billion. International Paper had a return on equity of 30.14% and a net margin of 6.88%. International Paper’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. Sell-side analysts forecast that International Paper Co will post 4.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.13%. International Paper’s payout ratio is 37.59%.

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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