Park Avenue Securities LLC Buys New Shares in International Paper Company $IP

Park Avenue Securities LLC bought a new position in shares of International Paper Company (NYSE:IP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,975 shares of the basic materials company’s stock, valued at approximately $530,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mitchell & Pahl Private Wealth LLC acquired a new stake in shares of International Paper during the third quarter worth $2,122,000. Man Group plc purchased a new stake in shares of International Paper during the second quarter valued at $24,640,000. The Manufacturers Life Insurance Company lifted its holdings in shares of International Paper by 50.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company’s stock valued at $44,478,000 after purchasing an additional 389,092 shares during the last quarter. Amundi acquired a new position in shares of International Paper in the 2nd quarter valued at $82,666,000. Finally, Howard Capital Management LLC acquired a new position in shares of International Paper in the 3rd quarter valued at $5,466,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company reduced their price objective on shares of International Paper from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Argus reissued a “buy” rating and issued a $45.00 target price on shares of International Paper in a research report on Thursday, September 24th. Loop Capital set a $61.00 target price on shares of International Paper in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Finally, Royal Bank Of Canada upped their price target on shares of International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.44.

International Paper Stock Down 3.7%

Shares of IP stock opened at $34.33 on Friday. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25. The company has a quick ratio of 0.77, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market cap of $18.18 billion, a PE ratio of -5.23, a price-to-earnings-growth ratio of 5.27 and a beta of 0.97. The stock has a 50 day moving average of $34.49 and a 200-day moving average of $37.28.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.28 billion. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) earnings per share. On average, equities analysts predict that International Paper Company will post 1.13 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Monday, November 16th. International Paper’s payout ratio is currently -28.20%.

About International Paper

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.