Sawtooth Solutions LLC Has $356,000 Stake in International Paper (NYSE:IP)

Sawtooth Solutions LLC trimmed its stake in shares of International Paper (NYSE:IP) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,361 shares of the basic materials company’s stock after selling 579 shares during the quarter. Sawtooth Solutions LLC’s holdings in International Paper were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Profund Advisors LLC boosted its position in International Paper by 3.5% during the second quarter. Profund Advisors LLC now owns 5,362 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 182 shares during the period. Kestra Private Wealth Services LLC boosted its position in International Paper by 2.2% during the third quarter. Kestra Private Wealth Services LLC now owns 8,925 shares of the basic materials company’s stock worth $499,000 after purchasing an additional 193 shares during the period. Green Square Capital Advisors LLC boosted its position in International Paper by 0.5% during the third quarter. Green Square Capital Advisors LLC now owns 36,091 shares of the basic materials company’s stock worth $2,018,000 after purchasing an additional 197 shares during the period. Intrua Financial LLC boosted its position in International Paper by 3.1% during the second quarter. Intrua Financial LLC now owns 6,516 shares of the basic materials company’s stock worth $391,000 after purchasing an additional 198 shares during the period. Finally, First National Bank of South Miami boosted its position in International Paper by 9.8% during the third quarter. First National Bank of South Miami now owns 2,243 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 201 shares during the period. 81.34% of the stock is owned by hedge funds and other institutional investors.

IP opened at $49.50 on Friday. International Paper has a twelve month low of $43.87 and a twelve month high of $65.27. The company has a 50-day simple moving average of $47.39 and a 200 day simple moving average of $53.75. The company has a quick ratio of 1.67, a current ratio of 2.11 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 10.86 and a beta of 0.99.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, October 27th. The basic materials company reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.11). The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.84 billion. International Paper had a return on equity of 18.42% and a net margin of 8.20%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. Sell-side analysts anticipate that International Paper will post 4.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 15th. Shareholders of record on Friday, February 18th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, February 17th. International Paper’s payout ratio is 40.57%.

International Paper declared that its Board of Directors has approved a stock buyback program on Tuesday, October 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of research firms have commented on IP. Citigroup reduced their price objective on shares of International Paper from $59.00 to $53.00 in a research report on Tuesday, January 4th. Zacks Investment Research raised shares of International Paper from a “sell” rating to a “hold” rating and set a $49.00 target price for the company in a research report on Tuesday, December 28th. Jefferies Financial Group cut shares of International Paper from a “buy” rating to a “hold” rating and reduced their target price for the company from $80.00 to $55.00 in a research report on Monday, November 1st. KeyCorp reduced their target price on shares of International Paper from $50.00 to $44.00 and set an “underweight” rating for the company in a research report on Monday, November 8th. Finally, BNP Paribas reissued a “neutral” rating and issued a $60.00 target price on shares of International Paper in a research report on Tuesday, October 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $57.31.

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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