True Freedom Investing LLC Makes New $4.57 Million Investment in International Paper Company $IP

Key Points

• True Freedom Investing LLC acquired 128,121 International Paper shares worth approximately $4.57 million in the second quarter. Institutional investors and hedge funds collectively own 81.95% of the company.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus rating and an average price target of $48.75; recent targets range from $41 to $52.
• International Paper beat quarterly EPS estimates, reporting $0.04 versus the expected 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% annualized yield.

True Freedom Investing LLC bought a new position in International Paper Company (NYSE:IP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 128,121 shares of the basic materials company's stock, valued at approximately $4,574,000.

Other large investors have also made changes to their positions in the company. DNB Asset Management AS raised its position in International Paper by 144.2% during the fourth quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock valued at $10,199,000 after buying an additional 152,907 shares during the period. D.A. Davidson & CO. lifted its stake in International Paper by 29.6% in the 1st quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock worth $4,921,000 after acquiring an additional 31,518 shares in the last quarter. Bellwether Advisors LLC acquired a new stake in International Paper during the 1st quarter worth about $2,615,000. Norges Bank acquired a new stake in International Paper during the 4th quarter worth about $250,093,000. Finally, Franklin Resources Inc. grew its stake in International Paper by 81.6% during the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock valued at $584,270,000 after acquiring an additional 6,663,986 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded International Paper from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Bank of America downgraded shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their price objective on shares of International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Wells Fargo & Company increased their target price on shares of International Paper from $42.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of International Paper from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $48.75.

Insider Buying and Selling

In other news, VP William Thomas Hamic sold 24,500 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

International Paper Stock Performance

Shares of IP stock opened at $41.53 on Friday. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The stock's 50-day moving average is $39.21 and its two-hundred day moving average is $37.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The firm has a market cap of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94.

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

International Paper Dividend Announcement

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

About International Paper

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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