International Paper Company (NYSE:IP) Shares Acquired by Friedenthal Financial

Friedenthal Financial raised its position in International Paper Company (NYSE:IP - Free Report) by 1,656.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,353 shares of the basic materials company's stock after purchasing an additional 15,422 shares during the quarter. Friedenthal Financial's holdings in International Paper were worth $872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper during the fourth quarter worth approximately $26,000. Picton Mahoney Asset Management increased its position in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares during the period. Venturi Wealth Management LLC increased its position in shares of International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after acquiring an additional 295 shares during the period. Finally, Bernard Wealth Management Corp. purchased a new position in shares of International Paper during the fourth quarter worth approximately $37,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on 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 sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by insiders.

International Paper Stock Down 0.4%

Shares of NYSE IP traded down $0.19 during midday trading on Friday, reaching $45.93. 7,152,708 shares of the company's stock traded hands, compared to its average volume of 3,256,016. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock's 50 day simple moving average is $47.07 and its 200-day simple moving average is $51.75. International Paper Company has a one year low of $41.50 and a one year high of $60.36. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 0.42 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last announced 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 firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. International Paper's revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. On average, analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid a $0.4625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.03%. International Paper's dividend payout ratio (DPR) is 158.12%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IP shares. Citigroup started coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company reaffirmed an "underweight" rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. UBS Group started coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Finally, Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $54.54.

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.