GAMMA Investing LLC Purchases 284,326 Shares of International Paper (NYSE:IP)

GAMMA Investing LLC boosted its stake in shares of International Paper (NYSE:IP - Free Report) by 5,577.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,424 shares of the basic materials company's stock after acquiring an additional 284,326 shares during the quarter. GAMMA Investing LLC owned 0.06% of International Paper worth $154,410,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sierra Ocean LLC bought a new stake in shares of International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in International Paper in the fourth quarter valued at about $26,000. Picton Mahoney Asset Management boosted its position in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after buying an additional 215 shares in the last quarter. Venturi Wealth Management LLC grew its stake in International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after buying an additional 295 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of International Paper during the fourth quarter worth approximately $37,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on IP. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. UBS Group began coverage on International Paper in a research report on Wednesday. They issued a "buy" rating and a $60.00 price objective for the company. Wall Street Zen cut International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Wells Fargo & Company restated an "underweight" rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a research note on Friday, May 9th. Finally, Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Paper has an average rating of "Hold" and a consensus target price of $54.54.

Insider Buying and Selling at International Paper

In related 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 in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.55% of the company's stock.

International Paper Trading Up 0.0%

Shares of IP traded up $0.01 during trading hours on Wednesday, hitting $47.33. 2,217,076 shares of the stock traded hands, compared to its average volume of 7,598,206. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 1-year low of $41.50 and a 1-year high of $60.36. The firm has a market capitalization of $24.99 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04. The business has a fifty day moving average of $47.68 and a 200-day moving average of $52.70.

International Paper (NYSE:IP - Get Free Report) last announced 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). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the prior year, the firm posted $0.17 earnings per share. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. Analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.91%. International Paper's dividend payout ratio is currently 158.12%.

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.