Allworth Financial LP Raises Stock Position in International Paper Company $IP

Allworth Financial LP grew its stake in shares of International Paper Company (NYSE:IP) by 228.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,970 shares of the basic materials company’s stock after purchasing an additional 4,846 shares during the quarter. Allworth Financial LP’s holdings in International Paper were worth $326,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of International Paper by 52.0% in the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after purchasing an additional 21,428,455 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of International Paper by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after acquiring an additional 4,201,422 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in International Paper by 230.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company’s stock valued at $211,543,000 after purchasing an additional 2,763,634 shares during the last quarter. Nuveen LLC acquired a new stake in International Paper during the 1st quarter valued at approximately $132,900,000. Finally, Goldman Sachs Group Inc. increased its holdings in International Paper by 78.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company’s stock worth $259,310,000 after purchasing an additional 2,143,027 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on IP shares. Wells Fargo & Company dropped their price target on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. decreased their price target on International Paper from $54.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. UBS Group cut their price objective on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Seaport Res Ptn lowered International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Stifel Nicolaus set a $57.80 price target on International Paper and gave the company a “buy” rating in a report on Friday, October 17th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, International Paper has an average rating of “Hold” and an average price target of $50.92.

Insider Buying and Selling

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

International Paper Stock Down 1.5%

International Paper stock opened at $37.34 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a one year low of $35.79 and a one year high of $60.36. The company has a 50-day simple moving average of $44.48 and a 200-day simple moving average of $47.10. The firm has a market capitalization of $19.72 billion, a P/E ratio of -373.40, a P/E/G ratio of 0.54 and a beta of 1.12.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 56.4% on a year-over-year basis. As a group, equities analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.0%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

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.