Bernard Wealth Management Corp. Makes New Investment in International Paper (NYSE:IP)

Bernard Wealth Management Corp. purchased a new position in International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 683 shares of the basic materials company’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IP. Barclays PLC grew its stake in shares of International Paper by 4.5% in the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock worth $44,774,000 after buying an additional 39,404 shares during the last quarter. CX Institutional purchased a new stake in shares of International Paper in the 4th quarter worth approximately $212,000. Fifth Third Bancorp grew its stake in shares of International Paper by 16.1% in the 4th quarter. Fifth Third Bancorp now owns 19,376 shares of the basic materials company’s stock worth $1,043,000 after buying an additional 2,686 shares during the last quarter. Blue Trust Inc. grew its stake in shares of International Paper by 18.6% in the 4th quarter. Blue Trust Inc. now owns 6,488 shares of the basic materials company’s stock worth $349,000 after buying an additional 1,017 shares during the last quarter. Finally, Apexium Financial LP purchased a new stake in shares of International Paper in the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

International Paper Price Performance

NYSE IP opened at $47.68 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 0.39 and a beta of 1.03. International Paper has a 1-year low of $41.50 and a 1-year high of $60.36. The business’s fifty day moving average price is $48.41 and its 200-day moving average price is $53.06.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. On average, equities analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.88%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Analyst Ratings Changes

IP has been the topic of several analyst reports. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Citigroup initiated coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Paper currently has an average rating of “Hold” and an average price target of $53.86.

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.