International Paper Company $IP Shares Newly Purchased by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management acquired 38,611 International Paper shares worth approximately $1.28 million in the third quarter. Institutional investors and hedge funds collectively own 81.95% of the company.
• International Paper reported quarterly EPS of $0.37, beating estimates of $0.29, while revenue came in at $6.20 billion, slightly below expectations and down 0.4% year over year.
• The company declared a quarterly dividend of $0.4625 per share, equivalent to an annualized $1.85 payout and a 5.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $45.44.

Apollon Wealth Management LLC acquired a new position in International Paper Company (NYSE:IP - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,611 shares of the basic materials company's stock, valued at approximately $1,281,000.

Other large investors have also recently added to or reduced their stakes in the company. Man Group plc acquired a new stake in shares of International Paper during the second quarter valued at about $24,640,000. Mitchell & Pahl Private Wealth LLC acquired a new position in shares of International Paper in the third quarter worth about $2,122,000. The Manufacturers Life Insurance Company raised its holdings in International Paper by 50.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company's stock valued at $44,478,000 after acquiring an additional 389,092 shares in the last quarter. Amundi bought a new position in International Paper during the 2nd quarter valued at $82,666,000. Finally, HighTower Advisors LLC bought a new position in International Paper during the 2nd quarter valued at $1,603,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

International Paper stock opened at $36.40 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.84. The company has a market cap of $19.28 billion, a P/E ratio of -5.55, a price-to-earnings-growth ratio of 4.88 and a beta of 0.93. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The firm's 50 day simple moving average is $34.96 and its 200-day simple moving average is $37.43.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $6.20 billion for the quarter, compared to analysts' expectations of $6.28 billion. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.43) EPS. As a group, equities research analysts predict that International Paper Company will post 1.23 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be paid a $0.4625 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. International Paper's payout ratio is -28.20%.

Insider Activity

In related news, VP William Hamic sold 24,500 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was 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 of the company's stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

IP has been the subject of several research analyst reports. Seaport Research Partners reissued a "buy" rating and issued a $46.00 target price on shares of International Paper in a research report on Wednesday, August 12th. Royal Bank Of Canada increased their price target on shares of International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Bank of America reiterated a "buy" rating on shares of International Paper in a research note on Thursday. Wall Street Zen cut International Paper from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. Finally, UBS Group lowered their target price on shares of International Paper from $47.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, October 5th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.44.

International Paper Profile

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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