HighTower Advisors LLC Makes New Investment in International Paper Company $IP

HighTower Advisors LLC acquired a new position in International Paper Company (NYSE:IP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 42,077 shares of the basic materials company's stock, valued at approximately $1,603,000.

A number of other large investors have also recently made changes to their positions in IP. MV Capital Management Inc. purchased a new stake in International Paper in the 4th quarter worth approximately $25,000. Aberdeen Wealth Management LLC purchased a new position in International Paper during the second quarter valued at approximately $27,000. Ascentis Independent Advisors purchased a new position in International Paper during the first quarter valued at approximately $28,000. DV Equities LLC bought a new position in shares of International Paper in the fourth quarter worth approximately $29,000. Finally, Delta Asset Management LLC TN bought a new position in shares of International Paper in the second quarter worth approximately $31,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

International Paper stock opened at $34.41 on Monday. The firm's fifty day moving average is $39.21 and its 200 day moving average is $36.91. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The company has a market cap of $18.22 billion, a price-to-earnings ratio of -5.28, a PEG ratio of 4.32 and a beta of 0.93. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. The firm 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 firm's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. Sell-side analysts forecast that International Paper Company will post 1.33 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's payout ratio is presently -28.37%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IP shares. Loop Capital set a $61.00 price objective on shares of International Paper in a research report on Tuesday, July 28th. Bank of America raised International Paper from a "neutral" rating to a "buy" rating and set a $46.00 price objective for the company in a research note on Friday. Wells Fargo & Company increased their target price on International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada boosted their price target on International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, International Paper has a consensus rating of "Moderate Buy" and an average price target of $49.13.

Insider Buying and Selling at International Paper

In other news, VP William Hamic sold 24,500 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer directly owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

International Paper Profile

International Paper Company NYSE: IP is a global producer of sustainable packaging and paper-based products. The company manufactures containerboard, corrugated packaging, and other fiber-based packaging solutions used to transport and protect goods across a range of industries. Its offerings also include absorbent pulp and cellulose fibers used in products such as diapers, hygiene items, and other consumer and industrial applications.

Founded in 1898, International Paper has grown through the development and operation of paper mills, packaging facilities, and related manufacturing assets.

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