International Paper Company $IP Stake Lifted by Chesley Taft & Associates LLC

Key Points

• Chesley Taft & Associates LLC expanded its holdings in International Paper Company by 91.7% in Q2, now owning 15,021 shares worth approximately $703,000.
• International Paper's recent quarterly earnings reported a miss with $0.20 per share, below the estimated $0.38, although its revenue increased by 42.9% year-over-year.
• Brokerages have varying ratings for International Paper, with UBS rating it as a buy with a price target of $60, while Wells Fargo set a target of $43 with an underweight rating.

Chesley Taft & Associates LLC boosted its position in shares of International Paper Company (NYSE:IP - Free Report) by 91.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,021 shares of the basic materials company's stock after buying an additional 7,185 shares during the period. Chesley Taft & Associates LLC's holdings in International Paper were worth $703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New Hampshire lifted its holdings in International Paper by 32.6% in the second quarter. Bank of New Hampshire now owns 1,220 shares of the basic materials company's stock valued at $57,000 after acquiring an additional 300 shares during the last quarter. Czech National Bank increased its position in shares of International Paper by 6.6% during the second quarter. Czech National Bank now owns 129,038 shares of the basic materials company's stock worth $6,043,000 after acquiring an additional 7,936 shares during the period. Quintet Private Bank Europe S.A. purchased a new stake in shares of International Paper during the second quarter worth $37,000. AG2R LA Mondiale Gestion D Actifs acquired a new position in International Paper during the 1st quarter worth approximately $1,217,000. Finally, Voya Investment Management LLC increased its holdings in International Paper by 8.3% in the first quarter. Voya Investment Management LLC now owns 158,499 shares of the basic materials company's stock valued at $8,456,000 after buying an additional 12,129 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were 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 owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.

International Paper Stock Down 1.4%

IP stock traded down $0.68 during trading on Friday, reaching $46.43. The stock had a trading volume of 9,209,781 shares, compared to its average volume of 3,515,157. The company has a market capitalization of $24.51 billion, a P/E ratio of -464.30, a PEG ratio of 0.52 and a beta of 1.05. The firm has a fifty day moving average price of $48.94 and a 200 day moving average price of $48.69. 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 Company has a 1-year low of $43.27 and a 1-year high of $60.36.

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). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the company posted $0.55 EPS. The business's revenue for the quarter was up 42.9% compared to the same quarter last year. On average, equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, August 15th. International Paper's dividend payout ratio is currently -1,850.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IP. Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Bank of America raised International Paper from a "neutral" rating to a "buy" rating and raised their price target for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. JPMorgan Chase & Co. downgraded shares of 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 report on Tuesday, August 5th. Finally, 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. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, International Paper currently has an average rating of "Hold" and an average price target of $55.65.

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.