Wealthfront Advisers LLC Buys 13,693 Shares of International Paper Company (NYSE:IP)

Wealthfront Advisers LLC increased its position in International Paper Company (NYSE:IP - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 311,069 shares of the basic materials company's stock after acquiring an additional 13,693 shares during the quarter. Wealthfront Advisers LLC owned about 0.06% of International Paper worth $16,596,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management grew its position in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in International Paper during the 4th quarter valued at about $37,000. Transce3nd LLC purchased a new stake in shares of International Paper in the fourth quarter worth about $38,000. Citizens National Bank Trust Department bought a new position in shares of International Paper in the first quarter valued at approximately $37,000. Finally, Grove Bank & Trust grew its stake in International Paper by 472.0% during 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. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on IP. Wells Fargo & Company restated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. UBS Group started coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Finally, Truist Financial set a $59.00 price target on shares of International Paper in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $55.65.

International Paper Trading Down 0.5%

NYSE:IP traded down $0.28 during trading hours on Thursday, reaching $51.01. The company's stock had a trading volume of 2,631,332 shares, compared to its average volume of 6,748,700. The firm has a 50-day simple moving average of $48.30 and a 200-day simple moving average of $50.96. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The firm has a market capitalization of $26.93 billion, a price-to-earnings ratio of 43.60, a PEG ratio of 0.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The company's revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Research analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.63%. International Paper's dividend payout ratio is currently 158.12%.

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by insiders.

International Paper Company 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.