Amalgamated Bank Has $2.08 Million Stake in International Paper Co (IP)

Amalgamated Bank lowered its stake in shares of International Paper Co (NYSE:IP) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,528 shares of the basic materials company’s stock after selling 1,295 shares during the period. Amalgamated Bank’s holdings in International Paper were worth $2,080,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Foster & Motley Inc. increased its stake in International Paper by 1.0% during the 4th quarter. Foster & Motley Inc. now owns 24,959 shares of the basic materials company’s stock worth $1,007,000 after buying an additional 248 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in International Paper by 1.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,879 shares of the basic materials company’s stock worth $560,000 after acquiring an additional 248 shares in the last quarter. Investors Research Corp grew its holdings in International Paper by 1.4% during the 4th quarter. Investors Research Corp now owns 21,307 shares of the basic materials company’s stock worth $860,000 after acquiring an additional 300 shares in the last quarter. WealthTrust Arizona LLC grew its holdings in International Paper by 40.0% during the 4th quarter. WealthTrust Arizona LLC now owns 1,050 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 300 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in International Paper by 2.0% during the 4th quarter. Macquarie Group Ltd. now owns 15,910 shares of the basic materials company’s stock worth $643,000 after acquiring an additional 310 shares in the last quarter. 81.36% of the stock is currently owned by institutional investors.

In related news, SVP W. Michael Jr. Amick sold 9,093 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $47.65, for a total transaction of $433,281.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John V. Sims sold 12,667 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $45.96, for a total transaction of $582,175.32. The disclosure for this sale can be found here. Insiders sold a total of 85,760 shares of company stock worth $4,016,587 over the last quarter. Insiders own 0.33% of the company’s stock.

Several brokerages have weighed in on IP. UBS Group decreased their price objective on shares of International Paper from $55.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Barclays decreased their price target on shares of International Paper from $40.00 to $39.00 and set an “underweight” rating for the company in a report on Monday, April 1st. Zacks Investment Research reissued a “hold” rating and set a $42.00 target price on shares of International Paper in a research note on Monday, December 31st. Finally, Citigroup reissued a “buy” rating and set a $53.00 target price 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, ten have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Shares of NYSE IP traded up $0.47 during midday trading on Friday, reaching $44.43. The company’s stock had a trading volume of 2,522,756 shares, compared to its average volume of 2,762,461. 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 Co has a one year low of $37.55 and a one year high of $59.57. The company has a market capitalization of $17.84 billion, a P/E ratio of 8.35, a PEG ratio of 1.74 and a beta of 1.57.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 31st. The basic materials company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. International Paper had a net margin of 8.63% and a return on equity of 30.83%. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.86 billion. On average, analysts anticipate that International Paper Co will post 5.11 earnings per share for the current year.

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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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