Mercer Global Advisors Inc. ADV Takes $515,000 Position in International Paper Co (IP)

Mercer Global Advisors Inc. ADV acquired a new position in International Paper Co (NYSE:IP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,762 shares of the basic materials company’s stock, valued at approximately $515,000.

A number of other large investors have also modified their holdings of IP. Truvestments Capital LLC acquired a new stake in shares of International Paper in the first quarter valued at approximately $30,000. Valeo Financial Advisors LLC boosted its position in shares of International Paper by 131.1% during the first quarter. Valeo Financial Advisors LLC now owns 3,573 shares of the basic materials company’s stock worth $165,000 after purchasing an additional 2,027 shares in the last quarter. Nachman Norwood & Parrott Inc bought a new position in shares of International Paper during the first quarter worth $238,000. NuWave Investment Management LLC boosted its position in shares of International Paper by 1,589.2% during the first quarter. NuWave Investment Management LLC now owns 2,804 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 2,638 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of International Paper by 8.3% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,324 shares of the basic materials company’s stock worth $385,000 after purchasing an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

A number of brokerages recently commented on IP. Royal Bank of Canada raised their price objective on shares of International Paper to $54.00 and gave the stock an “outperform” rating in a report on Friday, February 1st. Citigroup reiterated a “buy” rating and issued a $53.00 price target on shares of International Paper in a research note on Friday, February 1st. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Barclays cut their price objective 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. Finally, UBS Group cut 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. International Paper presently has a consensus rating of “Hold” and a consensus price target of $53.00.

NYSE IP traded down $0.06 on Friday, hitting $45.65. The company’s stock had a trading volume of 2,131,019 shares, compared to its average volume of 3,064,048. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.96 and a current ratio of 1.43. International Paper Co has a 1-year low of $37.55 and a 1-year high of $59.57. The stock has a market cap of $18.16 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 1.77 and a beta of 1.55.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.20. International Paper had a net margin of 7.32% and a return on equity of 31.35%. The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the firm posted $0.94 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. Analysts predict that International Paper Co will post 5.17 earnings per share for the current fiscal year.

In related news, insider Timothy S. Nicholls sold 45,000 shares of the stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $46.67, for a total transaction of $2,100,150.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jeanmichel Ribieras sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $46.85, for a total transaction of $234,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,760 shares of company stock worth $4,250,837. Insiders own 0.33% of the company’s stock.

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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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