198,846 Shares in International Paper Company $IP Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new stake in International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 198,846 shares of the basic materials company’s stock, valued at approximately $7,576,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its position in shares of International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of International Paper during the 4th quarter valued at approximately $25,000. Ascentis Independent Advisors acquired a new stake in shares of International Paper during the 1st quarter valued at approximately $28,000. DV Equities LLC bought a new position in International Paper during the fourth quarter worth $29,000. Finally, Summit Securities Group LLC lifted its stake in International Paper by 115.4% during the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 5,875 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insiders Place Their Bets

In related news, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction dated 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 owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction dated Tuesday, August 4th. The shares were 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 of the company’s stock, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

International Paper Stock Performance

Shares of IP opened at $40.99 on Thursday. International Paper Company has a 1 year low of $29.26 and a 1 year high of $50.25. The company has a market cap of $21.71 billion, a price-to-earnings ratio of -6.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The firm has a fifty day moving average of $39.00 and a 200-day moving average of $37.90.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the company earned $0.20 EPS. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.5%. International Paper’s dividend payout ratio is presently -28.37%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IP shares. Weiss Ratings reiterated a “sell (d)” rating on shares of International Paper in a research note on Friday, July 24th. Bank of America downgraded 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. Wells Fargo & Company increased their price objective on shares of International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Citigroup lifted their target price on International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 target price on shares of International Paper in a report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper 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.