Measured Wealth Private Client Group LLC Buys New Position in International Paper Company (NYSE:IP)

Key Points

• Measured Wealth Private Client Group LLC acquired a new stake in International Paper Company valued at approximately $1.04 million, purchasing 19,411 shares in the first quarter.
• Institutional investors now hold 81.95% of International Paper's stock, with significant increases in positions from firms like Vanguard Group and Bessemer Group.
• Analysts have given International Paper a mixed rating, with an average target price of $55.03 and several revising their price objectives recently.

Measured Wealth Private Client Group LLC bought a new stake in shares of International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 19,411 shares of the basic materials company's stock, valued at approximately $1,036,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cerity Partners LLC lifted its stake in International Paper by 8.2% during the fourth quarter. Cerity Partners LLC now owns 41,175 shares of the basic materials company's stock worth $2,139,000 after purchasing an additional 3,125 shares during the last quarter. Bank of Nova Scotia lifted its stake in International Paper by 4.9% during the fourth quarter. Bank of Nova Scotia now owns 45,752 shares of the basic materials company's stock worth $2,462,000 after purchasing an additional 2,124 shares during the last quarter. Renaissance Technologies LLC lifted its stake in International Paper by 98.8% during the fourth quarter. Renaissance Technologies LLC now owns 910,700 shares of the basic materials company's stock worth $49,014,000 after purchasing an additional 452,500 shares during the last quarter. Raymond James Financial Inc. bought a new position in International Paper during the fourth quarter worth $21,307,000. Finally, DRW Securities LLC acquired a new stake in International Paper in the fourth quarter worth $201,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on IP. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group began coverage on International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Finally, Truist Financial set a $59.00 target price on International Paper in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, International Paper has an average rating of "Hold" and an average price target of $55.03.

International Paper Stock Performance

Shares of IP traded up $1.19 during trading hours on Tuesday, reaching $48.35. 4,778,938 shares of the company's stock traded hands, compared to its average volume of 6,601,892. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of -483.50, a P/E/G ratio of 0.57 and a beta of 1.04. 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 Company has a twelve month low of $43.27 and a twelve month high of $60.36. The business's fifty day simple moving average is $49.11 and its two-hundred day simple moving average is $50.28.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. International Paper's revenue for the quarter was up 42.9% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. Analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.8%. International Paper's dividend payout ratio (DPR) is currently -1,850.00%.

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.