Wealth Enhancement Advisory Services LLC Purchases 533,973 Shares of International Paper Company $IP

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its stake in International Paper Company by 653.3% during Q2, now holding 615,706 shares valued at approximately $31 million.
• Major institutional investors have also raised their holdings, with Vanguard Group acquiring an additional 21.4 million shares, boosting its total to 62.6 million shares worth around $3.34 billion.
• Analysts have varied opinions on the stock, with Bank of America upgrading it from "neutral" to "buy" and raising the price target from $55 to $57, while Zacks downgraded it to a "strong sell."

Wealth Enhancement Advisory Services LLC boosted its position in shares of International Paper Company (NYSE:IP - Free Report) by 653.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 615,706 shares of the basic materials company's stock after acquiring an additional 533,973 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.12% of International Paper worth $31,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. raised its position in shares of International Paper by 56.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 187,500 shares of the basic materials company's stock valued at $8,781,000 after purchasing an additional 67,900 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of International Paper by 1.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 64,730 shares of the basic materials company's stock valued at $3,031,000 after purchasing an additional 923 shares during the period. Signal Advisors Wealth LLC bought a new position in shares of International Paper in the second quarter valued at about $207,000. Chesley Taft & Associates LLC increased its position in International Paper by 91.7% during the second quarter. Chesley Taft & Associates LLC now owns 15,021 shares of the basic materials company's stock worth $703,000 after acquiring an additional 7,185 shares during the period. Finally, Bank of New Hampshire increased its position in International Paper by 32.6% during the second quarter. Bank of New Hampshire now owns 1,220 shares of the basic materials company's stock worth $57,000 after acquiring an additional 300 shares during the period. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

Shares of IP traded up $0.43 during mid-day trading on Tuesday, reaching $46.59. The company had a trading volume of 273,748 shares, compared to its average volume of 6,151,913. The company's 50 day simple moving average is $48.82 and its 200 day simple moving average is $48.63. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The company has a market capitalization of $24.60 billion, a price-to-earnings ratio of -465.90, a P/E/G ratio of 0.52 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company's revenue for the quarter was up 42.9% on a year-over-year basis. Analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.0%. International Paper's dividend payout ratio (DPR) is currently -1,850.00%.

Insider Buying and Selling

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares in the company, valued at $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on IP. Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and raised their price target for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. UBS Group began coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target on the stock. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, International Paper currently has an average rating of "Hold" and a consensus target price of $55.65.

International Paper Company Profile

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.