Elevation Point Wealth Partners LLC Purchases Shares of 38,940 International Paper Company $IP

Key Points

• Elevation Point Wealth Partners purchased 38,940 shares of International Paper worth approximately $1.48 million in the second quarter.
• Institutional investors own 81.95% of International Paper, while analyst sentiment is moderately bullish, with an average price target of $48.75 versus the stock’s recent price near $41.53.
• International Paper beat quarterly EPS estimates but reported an 11.3% year-over-year revenue decline; it also declared a $0.4625 quarterly dividend, implying a 4.5% annualized yield.

Elevation Point Wealth Partners LLC purchased a new stake in International Paper Company (NYSE:IP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 38,940 shares of the basic materials company's stock, valued at approximately $1,484,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DNB Asset Management AS lifted its position 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 acquiring an additional 152,907 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of 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 valued at $4,921,000 after purchasing an additional 31,518 shares during the period. Bellwether Advisors LLC acquired a new position in shares of International Paper during the first quarter worth $2,615,000. Norges Bank purchased a new position in shares of International Paper in the fourth quarter valued at $250,093,000. Finally, 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 valued at $584,270,000 after purchasing an additional 6,663,986 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

Analyst Ratings Changes

IP has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of International Paper from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Royal Bank Of Canada lifted their target price on International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. UBS Group boosted their price target on International Paper from $40.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a report on Monday, August 17th. Finally, Weiss Ratings upgraded International Paper from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.75.

Insider Activity at International Paper

In related news, VP William Thomas Hamic sold 24,500 shares of the firm'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 directly owned 106,952 shares in the company, valued at $4,406,422.40. This trade represents a 18.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

International Paper Price Performance

Shares of IP opened at $41.53 on Monday. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The stock has a fifty day moving average price of $39.21 and a 200 day moving average price of $37.90. The company has a market cap of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, research analysts forecast that International Paper Company will post 1.34 earnings per share 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 issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's 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.

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