International Paper Company $IP Shares Purchased 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 increased its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 91.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,021 shares of the basic materials company's stock after purchasing an additional 7,185 shares during the quarter. Chesley Taft & Associates LLC's holdings in International Paper were worth $703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rise Advisors LLC grew its position in International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 346 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in International Paper in the first quarter valued at approximately $34,000. Bernard Wealth Management Corp. acquired a new stake in International Paper in the fourth quarter valued at approximately $37,000. Citizens National Bank Trust Department acquired a new stake in International Paper in the first quarter valued at approximately $37,000. Finally, Grove Bank & Trust grew its position in International Paper by 472.0% in the first 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 in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IP. 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. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 target price (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Truist Financial set a $59.00 target price on International Paper in a research note on Wednesday, May 28th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and increased their target price for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.65.

International Paper Stock Performance

Shares of IP opened at $46.94 on Thursday. The business's fifty day moving average price is $49.17 and its 200 day moving average price is $48.81. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The stock has a market capitalization of $24.78 billion, a PE ratio of -469.40, a price-to-earnings-growth ratio of 0.52 and a beta of 1.05. 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 (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). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter last year, the business earned $0.55 earnings per share. The business's revenue for the quarter was up 42.9% compared to the same quarter last year. Equities research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.9%. International Paper's dividend payout ratio (DPR) is -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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