Bellwether Advisors LLC Takes Position in International Paper Company $IP

Bellwether Advisors LLC bought a new stake in International Paper Company (NYSE:IP) during the first quarter, Holdings Channel.com reports. The fund bought 73,236 shares of the basic materials company’s stock, valued at approximately $2,615,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IP. Vanguard Group Inc. lifted its position in International Paper by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock valued at $2,535,058,000 after acquiring an additional 310,834 shares during the last quarter. Capital International Investors grew its holdings in shares of International Paper by 29.4% during the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after purchasing an additional 14,422,616 shares during the last quarter. Capital Research Global Investors increased its position in shares of International Paper by 0.4% during the fourth quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock worth $2,148,154,000 after purchasing an additional 204,654 shares in the last quarter. State Street Corp increased its position in shares of International Paper by 1.3% during the fourth quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock worth $1,182,083,000 after purchasing an additional 397,673 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of International Paper by 81.6% in the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after purchasing an additional 6,663,986 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE IP opened at $36.36 on Wednesday. The firm has a market cap of $19.25 billion, a P/E ratio of -5.72 and a beta of 0.94. International Paper Company has a 52-week low of $29.26 and a 52-week high of $56.13. The business’s 50-day moving average price is $35.19 and its 200 day moving average price is $37.98. 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 posted 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). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that International Paper Company will post 1.39 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.1%. International Paper’s payout ratio is presently -29.09%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IP shares. Royal Bank Of Canada raised their price target on International Paper from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Friday, May 1st. Citigroup raised their target price on shares of International Paper from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. UBS Group cut their target price on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of International Paper from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, International Paper has an average rating of “Moderate Buy” and an average target price of $44.31.

Insider Activity at International Paper

In related news, Director Scott Tozier purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

About International Paper

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.