207,989 Shares in International Paper Company $IP Acquired by Beacon Pointe Advisors LLC

Key Points

• Beacon Pointe Advisors acquired 207,989 shares of International Paper during the second quarter, valued at approximately $7.9 million. Institutional investors and hedge funds collectively own 81.95% of the company.
• International Paper reported quarterly EPS of $0.04, beating estimates of a $0.04 loss, although revenue declined 11.3% year over year to $6 billion and the company posted a negative net margin.
• The company declared a quarterly dividend of $0.4625 per share, representing an annualized payout of $1.85 and a 4.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $48.75.

Beacon Pointe Advisors LLC acquired a new stake in shares of International Paper Company (NYSE:IP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 207,989 shares of the basic materials company's stock, valued at approximately $7,924,000.

Other institutional investors have also made changes to their positions in the company. MCF Advisors LLC grew its stake in International Paper by 36.7% during the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 229 shares in the last quarter. Rothschild Investment LLC raised its position in shares of International Paper by 4.2% in the 4th quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company's stock valued at $236,000 after purchasing an additional 242 shares in the last quarter. Independent Advisor Alliance boosted its stake in shares of International Paper by 3.3% during the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock valued at $305,000 after buying an additional 244 shares during the last quarter. Horizon Investments LLC boosted its stake in shares of International Paper by 3.3% during the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock valued at $333,000 after buying an additional 267 shares during the last quarter. Finally, Stephens Inc. AR grew its position in shares of International Paper by 1.3% during the first quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company's stock worth $853,000 after buying an additional 298 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of IP opened at $39.34 on Friday. The stock has a market capitalization of $20.83 billion, a PE ratio of -6.03 and a beta of 0.94. The business's fifty day moving average price is $39.62 and its 200 day moving average price is $37.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same period in the prior year, the company earned $0.20 earnings per share. The firm's revenue was down 11.3% compared to the same quarter last year. Equities research analysts forecast that International Paper Company will post 1.34 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.7%. International Paper's dividend payout ratio is -28.37%.

Analysts Set New Price Targets

A number of analysts recently issued reports on IP shares. UBS Group upped their price target on shares of International Paper from $40.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Loop Capital set a $61.00 price objective on shares of International Paper in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on shares of International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upgraded shares of International Paper from a "neutral" rating to an "overweight" rating and upped their target price for the company from $51.00 to $61.00 in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised shares of International Paper from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.75.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the transaction, the chief accounting officer directly owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the sale, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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