Chesley Taft & Associates LLC Invests $418,000 in International Paper (NYSE:IP)

Chesley Taft & Associates LLC bought a new stake in International Paper (NYSE:IP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,836 shares of the basic materials company's stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IP. Allspring Global Investments Holdings LLC lifted its position in shares of International Paper by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock valued at $46,686,000 after acquiring an additional 15,904 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in International Paper in the 4th quarter valued at about $788,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in International Paper by 26.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,106 shares of the basic materials company's stock valued at $2,232,000 after purchasing an additional 8,669 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of International Paper by 18.0% during the 4th quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company's stock worth $946,000 after purchasing an additional 2,685 shares during the last quarter. Finally, Wakefield Asset Management LLLP purchased a new stake in shares of International Paper during the fourth quarter worth about $502,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IP. Wells Fargo & Company reissued an "underweight" rating and set a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They set a "neutral" rating on the stock. UBS Group began coverage on International Paper in a report on Wednesday. They set a "buy" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.54.

International Paper Price Performance

IP stock opened at $47.10 on Friday. The company has a market cap of $24.86 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $47.43 and a two-hundred day moving average price of $52.59. International Paper has a 12-month low of $41.50 and a 12-month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.93%. International Paper's dividend payout ratio is currently 158.12%.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares of the company's stock, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.55% of the company's stock.

International Paper Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

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