Pinkerton Wealth LLC Purchases New Holdings in International Paper Company $IP

Key Points

• Pinkerton Wealth LLC acquired 161,477 shares of International Paper during the third quarter, valued at approximately $5.36 million. Institutional investors collectively own 81.95% of the company.
• International Paper reported quarterly earnings of $0.37 per share, exceeding estimates of $0.29, while revenue reached $6.20 billion and declined 0.4% year over year.
• The company declared a quarterly dividend of $0.4625 per share, equivalent to $1.85 annually and a 5.1% yield. Analysts hold a consensus “Moderate Buy” rating with an average price target of $45.44.

Pinkerton Wealth LLC purchased a new position in shares of International Paper Company (NYSE:IP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 161,477 shares of the basic materials company's stock, valued at approximately $5,356,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Aberdeen Wealth Management LLC bought a new stake in shares of International Paper during the 2nd quarter valued at $27,000. Ascentis Independent Advisors bought a new position in shares of International Paper in the first quarter worth $28,000. Delta Asset Management LLC TN acquired a new position in International Paper in the second quarter valued at about $31,000. Essential Investment Partners LLC acquired a new position in International Paper in the third quarter valued at about $27,000. Finally, Transamerica Financial Advisors LLC bought a new stake in International Paper during the second quarter worth about $36,000. Institutional investors own 81.95% of the company's stock.

International Paper Price Performance

Shares of NYSE:IP opened at $36.40 on Monday. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.77. The company has a market cap of $19.28 billion, a price-to-earnings ratio of -5.55, a PEG ratio of 5.38 and a beta of 0.97. The firm has a 50 day simple moving average of $34.96 and a 200 day simple moving average of $37.43.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.08. The firm had revenue of $6.20 billion for the quarter, compared to analysts' expectations of $6.28 billion. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The company's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. Research analysts predict that International Paper Company will post 1.13 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Monday, November 16th. International Paper's dividend payout ratio is presently -28.20%.

Insider Transactions at International Paper

In other International Paper news, VP William Hamic sold 24,500 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IP shares. Argus reiterated a "buy" rating and set a $45.00 price objective on shares of International Paper in a research note on Thursday, September 24th. Bank of America restated a "buy" rating on shares of International Paper in a research report on Thursday. UBS Group cut their price target on shares of International Paper from $47.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Loop Capital set a $61.00 price objective on shares of International Paper in a research note on Tuesday, July 28th. Finally, Seaport Research Partners restated a "buy" rating and set a $46.00 price objective on shares of International Paper in a research report on Wednesday, August 12th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.44.

International Paper Profile

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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