International Paper Co (IP) Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. increased its stake in shares of International Paper Co (NYSE:IP) by 16.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,278 shares of the basic materials company’s stock after purchasing an additional 1,915 shares during the period. Wedbush Securities Inc.’s holdings in International Paper were worth $614,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IP. 10 15 Associates Inc. boosted its position in International Paper by 1.7% in the 4th quarter. 10 15 Associates Inc. now owns 13,290 shares of the basic materials company’s stock valued at $536,000 after buying an additional 220 shares during the period. Foster & Motley Inc. boosted its position in International Paper by 1.0% in the 4th quarter. Foster & Motley Inc. now owns 24,959 shares of the basic materials company’s stock valued at $1,007,000 after buying an additional 248 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in International Paper by 1.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,879 shares of the basic materials company’s stock valued at $560,000 after buying an additional 248 shares during the period. Fluent Financial LLC boosted its position in International Paper by 0.8% in the 1st quarter. Fluent Financial LLC now owns 35,015 shares of the basic materials company’s stock valued at $1,620,000 after buying an additional 273 shares during the period. Finally, Investors Research Corp raised its holdings in shares of International Paper by 1.4% in the 4th quarter. Investors Research Corp now owns 21,307 shares of the basic materials company’s stock valued at $860,000 after purchasing an additional 300 shares in the last quarter. 81.36% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:IP opened at $44.43 on Monday. International Paper Co has a 12 month low of $37.55 and a 12 month high of $59.57. The company has a current ratio of 1.49, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The firm has a market cap of $17.84 billion, a P/E ratio of 8.35, a P/E/G ratio of 1.74 and a beta of 1.57.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, January 31st. The basic materials company reported $1.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.04. The firm had revenue of $5.95 billion for the quarter, compared to analyst estimates of $5.86 billion. International Paper had a net margin of 8.63% and a return on equity of 30.83%. Equities analysts expect that International Paper Co will post 5.11 EPS for the current fiscal year.

A number of brokerages have recently weighed in on IP. Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating in a report on Monday, February 4th. UBS Group reduced their price objective on shares of International Paper from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Royal Bank of Canada lowered shares of International Paper from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $54.00 to $47.00 in a report on Friday, April 5th. Citigroup raised their price objective on shares of International Paper from $53.00 to $55.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Deutsche Bank reduced their price objective on shares of International Paper from $55.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.00.

In other International Paper news, SVP W. Michael Jr. Amick sold 9,093 shares of International Paper stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $47.65, for a total value of $433,281.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gregory T. Wanta sold 9,000 shares of International Paper stock in a transaction on Monday, February 25th. The shares were sold at an average price of $47.72, for a total transaction of $429,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,760 shares of company stock worth $4,016,587. 0.33% of the stock is currently owned by company insiders.

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About International Paper

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.

See Also: Stock Symbol

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

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