Algert Global LLC Purchases Shares of 551,034 International Paper Company $IP

Key Points

• Algert Global purchased 551,034 shares of International Paper during the second quarter, a stake valued at approximately $21 million. Institutional investors collectively own 81.95% of the company.
• International Paper reported quarterly EPS of $0.04, beating estimates of a $0.04 loss, while revenue fell 11.3% year over year to $6 billion. The company also declared a quarterly dividend of $0.4625, representing a 4.5% annualized yield.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $48.75 versus the stock’s reported price of $41.03.

Algert Global LLC purchased a new stake in International Paper Company (NYSE:IP - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 551,034 shares of the basic materials company's stock, valued at approximately $20,994,000. Algert Global LLC owned approximately 0.10% of International Paper at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IP. DNB Asset Management AS grew its holdings in shares of International Paper by 144.2% in the 4th quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock valued at $10,199,000 after acquiring an additional 152,907 shares in the last quarter. D.A. Davidson & CO. raised its holdings in International Paper by 29.6% during the first quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock worth $4,921,000 after acquiring an additional 31,518 shares in the last quarter. Bellwether Advisors LLC bought a new stake in International Paper during the first quarter worth about $2,615,000. Norges Bank acquired a new position in International Paper during the fourth quarter valued at approximately $250,093,000. Finally, Deutsche Bank AG acquired a new position in International Paper during the second quarter valued at approximately $77,604,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of NYSE IP opened at $41.03 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $21.73 billion, a P/E ratio of -6.29 and a beta of 0.94. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25. The stock has a 50 day moving average of $39.30 and a 200-day moving average of $37.90.

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

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. International Paper's dividend payout ratio is -28.37%.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the business's 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 of the company's stock, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IP has been the topic of a number of analyst reports. Loop Capital set a $61.00 price objective on International Paper in a research note on Tuesday, July 28th. JPMorgan Chase & Co. raised shares of International Paper from a "neutral" rating to an "overweight" rating and raised their target price for the company from $51.00 to $61.00 in a research note on Tuesday, July 28th. UBS Group boosted their target price on shares of International Paper from $40.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Weiss Ratings raised shares of International Paper from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday. Finally, Zacks Research upgraded shares of International Paper from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.75.

About International Paper

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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