Heartland Bank & Trust Co Buys New Position in International Paper Company $IP

Key Points

• Heartland Bank & Trust Co has acquired a new position in International Paper Company, purchasing 6,500 shares valued at approximately $304,000 in the 2nd quarter.
• Analysts have raised and lowered their ratings on International Paper, with a consensus rating of "Hold" and a target price of $53.46 while recent earnings missed expectations.
• The company will pay a quarterly dividend of $0.4625 on December 16th, yielding 4.1%, although it shows a high payout ratio of -1,850%.

Heartland Bank & Trust Co acquired a new stake in International Paper Company (NYSE:IP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,500 shares of the basic materials company's stock, valued at approximately $304,000.

A number of other hedge funds have also modified their holdings of IP. Rise Advisors LLC grew its position in International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock worth $25,000 after purchasing an additional 346 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in International Paper in the first quarter valued at $34,000. Citizens National Bank Trust Department acquired a new position in International Paper in the first quarter valued at $37,000. Quintet Private Bank Europe S.A. purchased a new stake in International Paper during the 2nd quarter valued at approximately $37,000. Finally, Grove Bank & Trust raised its stake in International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 623 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares of the company's stock, valued at $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on IP shares. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Jefferies Financial Group reduced their price objective on International Paper from $61.00 to $59.00 and set a "buy" rating for the company in a research note on Friday, September 26th. Seaport Res Ptn downgraded shares of International Paper from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, UBS Group cut their price target on shares of International Paper from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, October 6th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, International Paper currently has an average rating of "Hold" and a consensus price target of $53.46.

International Paper Stock Performance

Shares of IP stock opened at $45.65 on Tuesday. The company has a market cap of $24.10 billion, a price-to-earnings ratio of -456.50, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10. The stock has a 50 day simple moving average of $47.17 and a 200-day simple moving average of $47.98. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 42.9% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. On average, equities analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.1%. International Paper's payout ratio is currently -1,850.00%.

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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