Assetmark Inc. Buys 1,930 Shares of International Paper Company $IP

Assetmark Inc. boosted its position in International Paper Company (NYSE:IP) by 83.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,249 shares of the basic materials company’s stock after buying an additional 1,930 shares during the quarter. Assetmark Inc.’s holdings in International Paper were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Envestnet Asset Management Inc. lifted its stake in International Paper by 43.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 301,963 shares of the basic materials company’s stock worth $16,110,000 after purchasing an additional 90,766 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in International Paper by 2.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock valued at $751,000 after acquiring an additional 282 shares during the period. M&T Bank Corp raised its holdings in International Paper by 31.1% during the 1st quarter. M&T Bank Corp now owns 29,459 shares of the basic materials company’s stock valued at $1,571,000 after buying an additional 6,981 shares during the last quarter. Greenleaf Trust grew its stake in shares of International Paper by 2.5% in the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 224 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in International Paper by 22.9% in the first quarter. Allworth Financial LP now owns 2,124 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 396 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Up 4.4%

NYSE IP opened at $38.13 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $45.56 and its 200-day moving average price is $47.42. The stock has a market cap of $20.13 billion, a PE ratio of -381.30, a PEG ratio of 0.54 and a beta of 1.12. International Paper Company has a 12 month low of $35.79 and a 12 month high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. International Paper’s quarterly revenue was up 56.4% compared to the same quarter last year. Equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.9%. International Paper’s dividend payout ratio (DPR) is -70.88%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Seaport Res Ptn downgraded International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Citigroup lowered their price objective on shares of International Paper from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Royal Bank Of Canada reduced their target price on shares of International Paper from $61.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Bank of America raised International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, International Paper currently has an average rating of “Hold” and an average price target of $50.67.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

About International Paper

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.