Atlas FRM LLC Invests $374.90 Million in International Paper Company $IP

Atlas FRM LLC purchased a new position in International Paper Company (NYSE:IP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,840,000 shares of the basic materials company's stock, valued at approximately $374,904,000. International Paper comprises approximately 0.0% of Atlas FRM LLC's portfolio, making the stock its largest position. Atlas FRM LLC owned 1.86% of International Paper as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in IP. BlackRock Inc. acquired a new stake in shares of International Paper in the second quarter worth approximately $1,940,896,000. Bank of New York Mellon Corp acquired a new stake in shares of International Paper in the second quarter worth approximately $689,498,000. Capital International Investors boosted its stake in shares of International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company's stock worth $2,498,013,000 after acquiring an additional 14,422,616 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of International Paper by 81.6% in the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock worth $584,270,000 after acquiring an additional 6,663,986 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of International Paper in the fourth quarter worth approximately $250,093,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other news, CAO Holly G. Goughnour sold 3,500 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares of the company's stock, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IP shares. Wells Fargo & Company lifted their price target on International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Loop Capital set a $61.00 price target on International Paper in a research note on Tuesday, July 28th. Royal Bank Of Canada lifted their price target on International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, 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. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.75.

International Paper Stock Performance

Shares of International Paper stock opened at $39.34 on Friday. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The company has a market cap of $20.83 billion, a price-to-earnings ratio of -6.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The business's 50 day moving average price is $39.62 and its 200 day moving average price is $37.81.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping 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 firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the business posted $0.20 earnings per share. The firm's revenue was down 11.3% compared to the same quarter last year. On average, research analysts predict that International Paper Company will post 1.34 EPS for the current year.

International Paper Announces Dividend

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

International Paper 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.