Atlas FRM LLC Makes New Investment in International Paper Company $IP

Atlas FRM LLC acquired a new position in International Paper Company (NYSE:IP - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,840,000 shares of the basic materials company's stock, valued at approximately $374,904,000,000. International Paper comprises about 16.1% of Atlas FRM LLC's investment portfolio, making the stock its largest position. Atlas FRM LLC owned about 1.86% of International Paper as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. DNB Asset Management AS lifted its holdings in International Paper by 144.2% during the 4th quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock worth $10,199,000 after purchasing an additional 152,907 shares in the last quarter. D.A. Davidson & CO. grew its holdings in International Paper by 29.6% during the 1st quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock valued at $4,921,000 after buying an additional 31,518 shares in the last quarter. Bellwether Advisors LLC purchased a new position in International Paper during the 1st quarter valued at about $2,615,000. Norges Bank bought a new stake in shares of International Paper during the fourth quarter valued at about $250,093,000. Finally, Franklin Resources Inc. increased its position in shares of International Paper by 81.6% during the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock valued at $584,270,000 after buying an additional 6,663,986 shares during the period. Institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IP. Bank of America downgraded International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a research report on Tuesday, July 14th. Seaport Research Partners reaffirmed a "buy" rating and issued a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th. Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Wells Fargo & Company boosted their price objective on International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Monday, August 17th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Paper presently has an average rating of "Moderate Buy" and a consensus target price of $48.75.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the company'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 transaction of $1,009,400.00. Following the completion of the transaction, the vice president owned 106,952 shares of the company's stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

International Paper Trading Up 0.1%

NYSE:IP opened at $41.53 on Monday. The company has a 50-day moving average price of $39.21 and a 200-day moving average price of $37.90. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of -6.37 and a beta of 0.94. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. 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 quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the business posted $0.20 earnings per share. International Paper's quarterly revenue was down 11.3% compared to the same quarter last year. Equities analysts predict that International Paper Company will post 1.34 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.4625 per share. 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%.

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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