International Paper (NYSE:IP) Shares Acquired by Waverly Advisors LLC

Waverly Advisors LLC grew its position in International Paper (NYSE:IP) by 745.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,103 shares of the basic materials company’s stock after acquiring an additional 63,574 shares during the quarter. Waverly Advisors LLC’s holdings in International Paper were worth $2,813,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after purchasing an additional 5,492,035 shares during the period. Franklin Resources Inc. raised its position in International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after acquiring an additional 4,960,005 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in International Paper by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock worth $319,844,000 after acquiring an additional 35,930 shares in the last quarter. Bank of New York Mellon Corp raised its position in International Paper by 82.8% in the first quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock worth $237,336,000 after acquiring an additional 2,755,441 shares in the last quarter. Finally, Norges Bank purchased a new position in International Paper in the fourth quarter worth $94,913,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 3,000 shares of company stock worth $129,630 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

International Paper Trading Down 1.4 %

Shares of International Paper stock traded down $0.67 on Tuesday, reaching $45.97. 2,194,814 shares of the company were exchanged, compared to its average volume of 5,803,411. The stock has a fifty day moving average price of $44.83 and a 200-day moving average price of $39.55. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 95.18 and a beta of 1.06. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $47.40.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. International Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, analysts expect that International Paper will post 1.89 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.02%. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IP shares. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their price target for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Stifel Nicolaus started coverage on International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wells Fargo & Company increased their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.96.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.