AlphaCore Capital LLC Takes $815,000 Position in International Paper Company $IP

AlphaCore Capital LLC acquired a new stake in International Paper Company (NYSE:IP) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 20,680 shares of the basic materials company’s stock, valued at approximately $815,000.

Several other hedge funds have also modified their holdings of the stock. DNB Asset Management AS raised its stake in International Paper by 144.2% in the fourth quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company’s stock valued at $10,199,000 after buying an additional 152,907 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in International Paper by 25.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 258,263 shares of the basic materials company’s stock valued at $10,173,000 after buying an additional 52,195 shares in the last quarter. New York Life Investment Management LLC raised its stake in International Paper by 1.0% in the fourth quarter. New York Life Investment Management LLC now owns 72,317 shares of the basic materials company’s stock valued at $2,849,000 after buying an additional 697 shares in the last quarter. Independent Advisor Alliance raised its stake in International Paper by 3.3% in the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after buying an additional 244 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in International Paper by 175.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 421,210 shares of the basic materials company’s stock valued at $16,591,000 after buying an additional 268,526 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other International Paper news, Director Anders Gustafsson acquired 13,217 shares of the stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $37.83 per share, with a total value of $499,999.11. Following the acquisition, the director owned 26,092 shares of the company’s stock, valued at $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Tozier acquired 10,000 shares of the stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the acquisition, the director directly owned 10,025 shares in the company, valued at $313,782.50. This represents a 40,000.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 36,092 shares of company stock worth $1,313,064. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IP shares. JPMorgan Chase & Co. cut their price target on International Paper from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Citigroup cut their price target on International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Friday, May 1st. BNP Paribas Exane dropped their price objective on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Finally, Wells Fargo & Company raised International Paper from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $39.00 in a report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.73.

International Paper Stock Performance

NYSE IP opened at $30.42 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. International Paper Company has a 52-week low of $29.45 and a 52-week high of $56.13. The business’s 50-day moving average price is $34.98 and its 200 day moving average price is $38.94. The firm has a market cap of $16.11 billion, a P/E ratio of -4.78 and a beta of 0.93.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (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 for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the prior year, the business earned $0.17 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts expect that International Paper Company will post 1.43 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 6.1%. International Paper’s dividend payout ratio (DPR) is currently -29.09%.

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.