Pinkerton Wealth LLC Makes New $5.36 Million Investment in International Paper Company $IP

Pinkerton Wealth LLC bought a new position in shares of International Paper Company (NYSE:IP) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 161,477 shares of the basic materials company’s stock, valued at approximately $5,356,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of International Paper in the second quarter valued at about $1,940,896,000. Bank of New York Mellon Corp acquired a new position in shares of International Paper in the second quarter worth approximately $689,498,000. Atlas FRM LLC bought a new stake in International Paper in the second quarter valued at approximately $374,904,000. Hill City Capital LP bought a new stake in International Paper in the second quarter valued at approximately $194,310,000. Finally, Bank of America Corp DE acquired a new stake in International Paper during the 2nd quarter valued at approximately $142,802,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $36.40 on Monday. The firm has a 50 day moving average of $34.96 and a 200-day moving average of $37.43. The company has a market cap of $19.28 billion, a price-to-earnings ratio of -5.55, a price-to-earnings-growth ratio of 5.38 and a beta of 0.97. The company has a quick ratio of 0.77, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25.

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

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s dividend payout ratio (DPR) is -28.20%.

Insider Buying and Selling

In other news, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP William Hamic sold 24,500 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the transaction, the vice president directly owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IP. Wells Fargo & Company lowered their price target on shares of International Paper from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. Weiss Ratings lowered shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of International Paper from $62.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America reissued a “buy” rating on shares of International Paper in a research note on Thursday. Finally, Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average target price of $45.44.

International Paper 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.