Forum Financial Management LP Increases Stock Position in International Paper (NYSE:IP)

Forum Financial Management LP lifted its holdings in International Paper (NYSE:IP - Free Report) by 109.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,429 shares of the basic materials company's stock after buying an additional 5,965 shares during the period. Forum Financial Management LP's holdings in International Paper were worth $615,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in International Paper during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in International Paper during the 4th quarter valued at about $26,000. Picton Mahoney Asset Management grew its holdings in International Paper by 67.0% during the 4th 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 during the last quarter. Venturi Wealth Management LLC grew its holdings in International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 295 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in International Paper during the 4th quarter valued at about $37,000. 81.95% of the stock is currently owned by institutional investors.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

IP has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Wall Street Zen cut shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $40.00 price target (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $53.86.

International Paper Stock Performance

International Paper stock traded down $0.27 during mid-day trading on Friday, reaching $47.68. 1,192,966 shares of the company traded hands, compared to its average volume of 7,647,773. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The firm's fifty day moving average is $48.17 and its two-hundred day moving average is $52.93.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. International Paper's payout ratio is currently 158.12%.

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.