Gitterman Wealth Management LLC Makes New $360,000 Investment in International Paper Company $IP

Key Points

• Gitterman Wealth Management LLC invested approximately $360,000 in International Paper Company, acquiring 6,745 shares during the first quarter.
• The company's quarterly earnings fell short of analysts' expectations, reporting $0.20 earnings per share against a consensus estimate of $0.38.
• International Paper announced a quarterly dividend of $0.4625 per share, translating to an annual yield of 3.9%.

Gitterman Wealth Management LLC purchased a new stake in International Paper Company (NYSE:IP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,745 shares of the basic materials company's stock, valued at approximately $360,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Zions Bancorporation National Association UT purchased a new position in shares of International Paper during the first quarter valued at approximately $34,000. Bernard Wealth Management Corp. acquired a new position in International Paper during the fourth quarter worth approximately $37,000. Citizens National Bank Trust Department acquired a new position in International Paper during the first quarter worth approximately $37,000. Grove Bank & Trust increased its position in International Paper by 472.0% during the first 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 acquired a new stake in shares of International Paper in the first quarter worth $42,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

IP has been the subject of several recent research reports. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. lowered shares of International Paper from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. UBS Group began coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective for the company. Zacks Research lowered shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.46.

International Paper Price Performance

Shares of IP traded down $0.04 during mid-day trading on Wednesday, hitting $48.74. The company's stock had a trading volume of 891,251 shares, compared to its average volume of 6,399,613. The firm has a 50-day moving average price of $49.32 and a 200 day moving average price of $49.67. The stock has a market capitalization of $25.73 billion, a price-to-earnings ratio of -487.40, a PEG ratio of 0.64 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business's revenue for the quarter was up 42.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. On average, research analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio (DPR) is presently -1,850.00%.

International Paper Company 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.