Summit Investment Advisors Inc. Acquires 2,200 Shares of International Paper Company $IP

Summit Investment Advisors Inc. raised its stake in International Paper Company (NYSE:IP) by 65.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,585 shares of the basic materials company’s stock after purchasing an additional 2,200 shares during the period. Summit Investment Advisors Inc.’s holdings in International Paper were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Gentry Private Wealth LLC lifted its stake in shares of International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after buying an additional 188 shares in the last quarter. Wright Investors Service Inc. grew its holdings in International Paper by 2.9% during the second quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock worth $338,000 after buying an additional 201 shares in the last quarter. Wellington Shields Capital Management LLC raised its position in International Paper by 7.0% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock valued at $162,000 after buying an additional 226 shares during the last quarter. Csenge Advisory Group lifted its stake in International Paper by 1.5% during the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock valued at $867,000 after acquiring an additional 234 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in International Paper by 10.1% during the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 259 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent analyst reports. BNP Paribas Exane dropped their price target on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and upped their target price for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Royal Bank Of Canada dropped their price objective on International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus price target of $50.92.

Insider Buying and Selling

In other news, SVP Joseph R. Saab sold 9,000 shares of the 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 transaction, the senior vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.

International Paper Stock Performance

NYSE IP opened at $37.34 on Friday. The company’s 50 day simple moving average is $44.48 and its two-hundred day simple moving average is $47.09. The stock has a market capitalization of $19.72 billion, a PE ratio of -373.40, a P/E/G ratio of 0.54 and a beta of 1.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 1 year low of $35.79 and a 1 year high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company’s quarterly revenue was up 56.4% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 5.0%. International Paper’s payout ratio is presently -70.88%.

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.