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

Wealthfront Advisers LLC lifted its position in shares of International Paper Company (NYSE:IPFree Report) by 15.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,584 shares of the basic materials company’s stock after acquiring an additional 26,451 shares during the quarter. Wealthfront Advisers LLC’s holdings in International Paper were worth $6,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. McIlrath & Eck LLC increased its holdings in 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 purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of International Paper during the fourth quarter valued at about $25,000. Ascentis Independent Advisors bought a new stake in shares of International Paper during the first quarter worth about $28,000. DV Equities LLC bought a new stake in shares of International Paper during the fourth quarter worth about $29,000. Finally, Sound Income Strategies LLC increased its stake in shares of International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after buying an additional 344 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP opened at $37.53 on Friday. International Paper Company has a 1 year low of $29.26 and a 1 year high of $56.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. The company has a market capitalization of $19.87 billion, a price-to-earnings ratio of -5.90 and a beta of 0.94. The business has a 50-day moving average of $35.04 and a 200-day moving average of $38.04.

International Paper (NYSE:IPGet Free Report) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. International Paper’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that International Paper Company will post 1.39 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.9%. International Paper’s dividend payout ratio (DPR) is presently -29.09%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Tuesday, July 14th. Truist Financial boosted their target price on shares of International Paper from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup upped their price target on shares of International Paper from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. BNP Paribas Exane dropped their price target on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.31.

Check Out Our Latest Stock Analysis on IP

More International Paper News

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

Insider Activity

In other news, Director Scott Tozier purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the transaction, the director owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.

International Paper Profile

(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

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

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