Wealthfront Advisers LLC Acquires 26,451 Shares of International Paper Company $IP

Wealthfront Advisers LLC increased its holdings in International Paper Company (NYSE:IPFree Report) by 15.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,584 shares of the basic materials company’s stock after buying an additional 26,451 shares during the period. Wealthfront Advisers LLC’s holdings in International Paper were worth $6,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Capital International Investors grew its position in 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 buying an additional 14,422,616 shares in the last quarter. Franklin Resources Inc. raised its holdings in 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 acquiring an additional 6,663,986 shares in the last quarter. Norges Bank acquired a new position in International Paper in the 4th quarter valued at $250,093,000. Bank of New York Mellon Corp lifted its position in shares of International Paper by 66.2% during the 1st quarter. Bank of New York Mellon Corp now owns 13,601,299 shares of the basic materials company’s stock valued at $485,566,000 after acquiring an additional 5,417,274 shares during the period. Finally, Atlas FRM LLC lifted its position in shares of International Paper by 56.2% during the 4th quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock valued at $196,950,000 after acquiring an additional 1,800,000 shares during the period. 81.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Paper

In related news, Director Scott Tozier purchased 10,000 shares of International Paper stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the purchase, the director owned 10,025 shares in the company, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

International Paper Price Performance

International Paper stock opened at $37.53 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. International Paper Company has a 52 week low of $29.26 and a 52 week high of $56.13. The stock has a market capitalization of $19.87 billion, a P/E ratio of -5.90 and a beta of 0.94. The stock has a fifty day moving average of $35.04 and a 200-day moving average of $38.04.

International Paper (NYSE:IPGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share 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 business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that International Paper Company will post 1.39 earnings per share for the current fiscal year.

International Paper Dividend Announcement

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 4.9%. International Paper’s dividend payout ratio is -29.09%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IP. BNP Paribas Exane decreased their price target on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Royal Bank Of Canada upped their price objective on shares of International Paper from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of International Paper from $43.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings lowered shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.31.

Check Out Our Latest Stock Report on IP

Key Headlines Impacting International Paper

Here are the key news stories impacting International Paper this week:

About International Paper

(Free Report)

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.

See Also

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IPFree Report).

Institutional Ownership by Quarter for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.