OneDigital Investment Advisors LLC Makes New $861,000 Investment in International Paper Company $IP

OneDigital Investment Advisors LLC purchased a new position in shares of International Paper Company (NYSE:IP) in the second quarter, HoldingsChannel reports. The institutional investor purchased 22,603 shares of the basic materials company’s stock, valued at approximately $861,000.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in International Paper during the second quarter worth $689,498,000. Capital International Investors raised its stake in International Paper by 29.4% during the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after purchasing an additional 14,422,616 shares during the last quarter. Franklin Resources Inc. boosted 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 purchasing an additional 6,663,986 shares during the period. Norges Bank acquired a new stake in International Paper in the 4th quarter worth $250,093,000. Finally, Atlas FRM LLC grew its position in International Paper by 56.2% in the 4th quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock worth $196,950,000 after purchasing an additional 1,800,000 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IP shares. Loop Capital set a $61.00 price objective on shares of International Paper in a report on Tuesday, July 28th. UBS Group lifted their target price on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Citigroup boosted their price target on International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a report on Monday. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $46.00 price objective on shares of International Paper in a research report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.75.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the firm’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 transaction, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

International Paper Trading Down 1.1%

Shares of IP stock opened at $40.29 on Tuesday. The firm has a fifty day moving average of $38.69 and a 200-day moving average of $37.89. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of -6.18 and a beta of 0.94. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. On average, equities research analysts forecast that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s payout ratio is presently -28.37%.

International Paper Company Profile

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.