Whalen Wealth Management Inc. Takes Position in International Paper Company $IP

Whalen Wealth Management Inc. purchased a new stake in International Paper Company (NYSE:IP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,902 shares of the basic materials company’s stock, valued at approximately $604,000.

Several other large investors have also modified their holdings of IP. Rise Advisors LLC raised its holdings in shares of International Paper by 281.3% in the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. AlphaQuest LLC raised its stake in shares of International Paper by 63,400.0% during the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of International Paper during the 2nd quarter worth approximately $33,000. Zions Bancorporation National Association UT bought a new position in shares of International Paper during the 1st quarter worth approximately $34,000. Finally, Quintet Private Bank Europe S.A. bought a new position in shares of International Paper during the 2nd quarter worth approximately $37,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IP. BNP Paribas Exane reduced their price objective on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of International Paper in a research note on Tuesday, October 14th. UBS Group reduced their price objective on shares of International Paper from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Stifel Nicolaus set a $57.80 price objective on shares of International Paper and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.85.

International Paper Trading Down 2.2%

Shares of International Paper stock opened at $47.13 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of -471.30, a PEG ratio of 0.59 and a beta of 1.10. The firm’s 50 day simple moving average is $47.23 and its two-hundred day simple moving average is $47.88.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. Analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. International Paper’s dividend payout ratio (DPR) is currently -1,850.00%.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.

International Paper 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.