Envestnet Asset Management Inc. Boosts Stake in International Paper Company (NYSE:IP)

Envestnet Asset Management Inc. increased its stake in shares of International Paper Company (NYSE:IP - Free Report) by 43.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 301,963 shares of the basic materials company's stock after purchasing an additional 90,766 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of International Paper worth $16,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. Bernard Wealth Management Corp. purchased a new position in International Paper in the 4th quarter valued at approximately $37,000. Citizens National Bank Trust Department purchased a new stake in shares of International Paper during the 1st quarter worth $37,000. Transce3nd LLC purchased a new stake in shares of International Paper during the 4th quarter worth $38,000. Grove Bank & Trust lifted its position in shares of International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after purchasing an additional 623 shares during the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in shares of International Paper during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company's stock.

International Paper Stock Performance

Shares of IP stock opened at $51.01 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The company has a market capitalization of $26.93 billion, a P/E ratio of 43.60, a price-to-earnings-growth ratio of 0.47 and a beta of 1.02. The company's 50 day moving average price is $48.42 and its two-hundred day moving average price is $50.95. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its earnings results 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). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the business posted $0.17 earnings per share. International Paper's quarterly revenue was up 27.8% compared to the same quarter last year. On average, analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, May 23rd. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Analyst Upgrades and Downgrades

IP has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday, May 28th. UBS Group initiated coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Finally, Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $55.65.

About International Paper

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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