Integrated Advisors Network LLC grew its holdings in International Paper (NYSE:IP – Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,683 shares of the basic materials company’s stock after acquiring an additional 304 shares during the quarter. Integrated Advisors Network LLC’s holdings in International Paper were worth $250,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the 4th quarter valued at approximately $26,000. Picton Mahoney Asset Management lifted its holdings in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after buying an additional 295 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new position in International Paper during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Insider Buying and Selling at International Paper
In other news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.
International Paper Price Performance
International Paper (NYSE:IP – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. Equities research analysts forecast that International Paper will post 2.77 EPS for the current year.
International Paper Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper’s dividend payout ratio (DPR) is presently 158.12%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an “underweight” rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a report on Friday, May 9th. Citigroup started coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. started coverage on International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target for the company. Finally, Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.54.
View Our Latest Research Report on IP
About International Paper
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.
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