International Paper Company (NYSE:IP) Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its position in International Paper Company (NYSE:IP) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,069 shares of the basic materials company’s stock after acquiring an additional 13,693 shares during the quarter. Wealthfront Advisers LLC owned 0.06% of International Paper worth $16,596,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its stake in International Paper by 8.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,645,201 shares of the basic materials company’s stock valued at $194,471,000 after acquiring an additional 274,516 shares during the period. Dakota Wealth Management purchased a new stake in shares of International Paper in the first quarter worth approximately $223,000. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of International Paper in the first quarter worth approximately $344,000. Securian Asset Management Inc. raised its position in International Paper by 49.3% during the first quarter. Securian Asset Management Inc. now owns 27,875 shares of the basic materials company’s stock valued at $1,487,000 after acquiring an additional 9,205 shares in the last quarter. Finally, LRI Investments LLC raised its position in shares of International Paper by 6.6% in the first quarter. LRI Investments LLC now owns 7,287 shares of the basic materials company’s stock valued at $389,000 after purchasing an additional 451 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Down 0.4%

Shares of IP opened at $52.20 on Tuesday. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36. The business’s fifty day moving average is $48.02 and its 200-day moving average is $50.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a market cap of $27.56 billion, a price-to-earnings ratio of 44.62, a PEG ratio of 0.48 and a beta of 1.02.

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 analysts’ consensus estimates of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. Equities analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.54%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Analyst Ratings Changes

Several equities research analysts have issued reports on IP shares. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial set a $59.00 target price on International Paper in a report on Wednesday, May 28th. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Finally, UBS Group assumed coverage on International Paper in a report on Wednesday, June 4th. They set a “buy” rating and a $60.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.65.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

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.