Alps Advisors Inc. Has $25.64 Million Stock Holdings in International Paper Company $IP

Alps Advisors Inc. grew its position in shares of International Paper Company (NYSE:IP) by 22.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 650,921 shares of the basic materials company’s stock after purchasing an additional 117,474 shares during the period. Alps Advisors Inc.’s holdings in International Paper were worth $25,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. McIlrath & Eck LLC lifted its stake in shares of International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares during the period. Sound Income Strategies LLC lifted its stake in shares of International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 344 shares during the period. MCF Advisors LLC lifted its stake in shares of International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 229 shares during the period. Kelleher Financial Advisors acquired a new position in shares of International Paper in the third quarter worth approximately $36,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of International Paper in the fourth quarter worth approximately $37,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IP shares. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Citigroup dropped their price target on International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Wells Fargo & Company raised International Paper from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $38.00 to $39.00 in a research note on Monday, May 4th. Seaport Research Partners raised International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on International Paper from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

Insider Activity at International Paper

In other news, Director Scott Tozier acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the acquisition, the director directly owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

International Paper Trading Up 10.2%

NYSE IP opened at $35.11 on Friday. The company has a market cap of $18.59 billion, a price-to-earnings ratio of -5.52 and a beta of 0.96. International Paper Company has a 52 week low of $29.26 and a 52 week high of $56.13. The business has a 50 day moving average price of $33.59 and a 200-day moving average price of $38.30. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, equities analysts expect that International Paper Company will post 1.38 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.85 annualized dividend and a dividend yield of 5.3%. International Paper’s payout ratio is currently -29.09%.

International Paper Profile

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.