Park Avenue Securities LLC Buys New Position in International Paper Company $IP

Park Avenue Securities LLC bought a new position in International Paper Company (NYSE:IP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,975 shares of the basic materials company’s stock, valued at approximately $530,000.

A number of other large investors have also bought and sold shares of IP. Apollon Wealth Management LLC bought a new position in International Paper in the 3rd quarter valued at $1,281,000. Sigma Planning Corp acquired a new position in International Paper in the third quarter worth $1,080,000. Code Waechter LLC bought a new stake in shares of International Paper during the third quarter worth $254,000. Signaturefd LLC bought a new stake in shares of International Paper during the third quarter worth $258,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of International Paper during the third quarter worth $311,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Down 3.7%

NYSE IP opened at $34.33 on Friday. The stock has a fifty day moving average of $34.49 and a 200-day moving average of $37.28. The stock has a market capitalization of $18.18 billion, a P/E ratio of -5.23, a price-to-earnings-growth ratio of 5.27 and a beta of 0.97. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.77 and a current ratio of 1.01.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts forecast that International Paper Company will post 1.13 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Monday, November 16th. International Paper’s dividend payout ratio (DPR) is presently -28.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IP. UBS Group lowered their target price on International Paper from $47.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Wells Fargo & Company reduced their price target on shares of International Paper from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Seaport Research Partners restated a “buy” rating and issued a $46.00 price objective on shares of International Paper in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada raised their price objective on shares of International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.44.

International Paper Company Profile

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.