International Paper Company $IP Stock Position Lifted by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in International Paper Company by 8.6%, owning 280,387 shares valued at approximately $13.13 million.
• Several institutional investors modified their holdings, with Alliancebernstein L.P. boosting its stake by 47.0% during the first quarter.
• Analysts have set new price targets for International Paper, with Jefferies Financial Group reducing their target from $61.00 to $59.00 while maintaining a "buy" rating.

TD Asset Management Inc lifted its holdings in International Paper Company (NYSE:IP - Free Report) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 280,387 shares of the basic materials company's stock after purchasing an additional 22,270 shares during the quarter. TD Asset Management Inc owned 0.05% of International Paper worth $13,131,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of IP. Stratos Wealth Partners LTD. boosted its stake in International Paper by 2.0% during the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company's stock valued at $751,000 after buying an additional 282 shares in the last quarter. Spire Wealth Management boosted its stake in International Paper by 2,343.9% during the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock valued at $86,000 after buying an additional 1,547 shares in the last quarter. Consolidated Planning Corp bought a new position in International Paper during the second quarter valued at about $317,000. MBB Public Markets I LLC bought a new position in International Paper during the first quarter valued at about $313,000. Finally, Alliancebernstein L.P. boosted its stake in International Paper by 47.0% during the first quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company's stock valued at $29,526,000 after buying an additional 176,991 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

IP has been the subject of several research reports. Jefferies Financial Group decreased their target price 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. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wells Fargo & Company raised their target price on International Paper from $43.00 to $44.00 and gave the company an "underweight" rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of International Paper in a report on Tuesday, October 14th. Finally, UBS Group reduced their target price on International Paper from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, October 6th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $53.85.

International Paper Trading Up 0.1%

Shares of NYSE IP opened at $46.69 on Friday. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company has a market cap of $24.65 billion, a price-to-earnings ratio of -466.90, a P/E/G ratio of 0.57 and a beta of 1.10. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $47.14 and a 200-day simple moving average of $47.83.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company's revenue was up 42.9% compared to the same quarter last year. Sell-side analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. International Paper's payout ratio is presently -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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