Visionary Wealth Advisors purchased a new stake in shares of International Paper Company (NYSE:IP - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,123 shares of the basic materials company's stock, valued at approximately $1,110,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC grew its position in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company's stock valued at $25,000 after buying an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of International Paper during the 4th quarter worth about $25,000. Ascentis Independent Advisors acquired a new stake in shares of International Paper in the 1st quarter worth approximately $28,000. DV Equities LLC bought a new position in shares of International Paper in the fourth quarter valued at approximately $29,000. Finally, Summit Securities Group LLC increased its stake in shares of International Paper by 115.4% during the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 5,875 shares during the period. 81.95% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on IP shares. JPMorgan Chase & Co. upgraded International Paper from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $51.00 to $61.00 in a research report on Tuesday, July 28th. Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday, July 28th. Seaport Research Partners reissued a "buy" rating and issued a $46.00 price objective on shares of International Paper in a research note on Wednesday, August 12th. Citigroup upped their price objective on International Paper from $43.00 to $48.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Zacks Research raised International Paper from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Nine research 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.75.
Read Our Latest Analysis on International Paper
Insider Transactions at International Paper
In other International Paper news, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction dated Friday, August 7th. The stock was 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 of the company's stock, valued at $4,406,422.40. The trade was a 18.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the company's 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 completion of the transaction, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% 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.
International Paper Price Performance
Shares of NYSE:IP opened at $41.03 on Tuesday. The company's fifty day moving average is $39.30 and its two-hundred day moving average is $37.90. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25. The company has a market cap of $21.73 billion, a P/E ratio of -6.29 and a beta of 0.94.
International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.19 billion. During the same quarter last year, the firm posted $0.20 earnings per share. International Paper's revenue was down 11.3% compared to the same quarter last year. Equities analysts expect that International Paper Company will post 1.34 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 Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. International Paper's dividend payout ratio (DPR) is presently -28.37%.
International Paper Company Profile
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Free Report)
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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