Covalis Capital LLP Purchases Shares of 62,096 International Paper Company $IP

Covalis Capital LLP acquired a new position in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 62,096 shares of the basic materials company’s stock, valued at approximately $2,908,000.

Several other hedge funds have also modified their holdings of IP. Gentry Private Wealth LLC boosted its position in shares of International Paper by 2.1% in the 2nd quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 188 shares during the period. Wright Investors Service Inc. boosted its holdings in shares of International Paper by 2.9% in 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 during the period. Wellington Shields Capital Management LLC increased its position in shares of International Paper by 7.0% in the second quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock worth $162,000 after acquiring an additional 226 shares in the last quarter. Blue Trust Inc. increased its position in shares of International Paper by 10.1% in the second 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 in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of International Paper by 3.1% during the first quarter. IFP Advisors Inc now owns 9,224 shares of the basic materials company’s stock valued at $496,000 after acquiring an additional 275 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

International Paper Stock Performance

Shares of NYSE IP opened at $37.65 on Friday. 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 one year low of $35.56 and a one year high of $60.36. The business’s 50-day moving average price is $43.48 and its two-hundred day moving average price is $46.80. The company has a market capitalization of $19.88 billion, a P/E ratio of -376.50, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 56.4% compared to the same quarter last year. Analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s dividend payout ratio (DPR) is -70.88%.

Wall Street Analyst Weigh In

A number of research firms recently commented on IP. Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $57.00 in a research note on Thursday, August 28th. Royal Bank Of Canada decreased their target price on International Paper from $61.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Wells Fargo & Company dropped their price target on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday, October 31st. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, JPMorgan Chase & Co. lowered their target price on International Paper from $54.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.92.

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.