NewEdge Advisors LLC Boosts Position in International Paper Company $IP

Key Points

• NewEdge Advisors increased its International Paper stake by 231.2% in the first quarter, owning 39,585 shares valued at approximately $1.4 million. Institutional investors collectively own 81.95% of the company.
• Analyst sentiment is broadly positive, with nine Buy ratings, four Holds, and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $48.75.
• International Paper beat quarterly EPS expectations, reporting $0.04 versus the projected loss of $0.04, but revenue fell 11.3% year over year to $6 billion. The company also declared a quarterly dividend of $0.4625 per share, representing a 4.5% yield.

NewEdge Advisors LLC grew its stake in shares of International Paper Company (NYSE:IP - Free Report) by 231.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,585 shares of the basic materials company's stock after buying an additional 27,634 shares during the period. NewEdge Advisors LLC's holdings in International Paper were worth $1,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors grew its stake in International Paper by 29.4% during the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company's stock valued at $2,498,013,000 after acquiring an additional 14,422,616 shares in the last quarter. Franklin Resources Inc. lifted its stake in International Paper by 81.6% in the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock worth $584,270,000 after purchasing an additional 6,663,986 shares in the last quarter. Norges Bank purchased a new stake in International Paper in the 4th quarter worth approximately $250,093,000. Bank of New York Mellon Corp boosted its holdings in International Paper by 66.2% in the 1st quarter. Bank of New York Mellon Corp now owns 13,601,299 shares of the basic materials company's stock valued at $485,566,000 after purchasing an additional 5,417,274 shares during the period. Finally, Atlas FRM LLC grew its position in shares of International Paper by 56.2% during the 4th quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company's stock valued at $196,950,000 after purchasing an additional 1,800,000 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares of the company's stock, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IP. Weiss Ratings reiterated a "sell (d)" rating on shares of International Paper in a research report on Friday, July 24th. Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Royal Bank Of Canada upped their target price on International Paper from $48.00 to $52.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Citigroup raised their price target on International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upgraded International Paper from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $51.00 to $61.00 in a research report on Tuesday, July 28th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.75.

International Paper Stock Down 0.0%

Shares of NYSE:IP opened at $40.73 on Monday. The firm has a market capitalization of $21.57 billion, a PE ratio of -6.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25. The firm has a fifty day moving average of $38.54 and a 200 day moving average of $37.91.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the business posted $0.20 earnings per share. The company's revenue for the quarter was down 11.3% on a year-over-year basis. As a group, research analysts anticipate that International Paper Company will post 1.34 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's dividend payout ratio (DPR) is currently -28.37%.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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