Asset Dedication LLC Grows Stake in International Paper (NYSE:IP)

Asset Dedication LLC boosted its position in shares of International Paper (NYSE:IP) by 193.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,484 shares of the basic materials company’s stock after acquiring an additional 1,638 shares during the quarter. Asset Dedication LLC’s holdings in International Paper were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IP. Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Paper during the 4th quarter worth $37,000. Janney Montgomery Scott LLC increased its position in International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after buying an additional 17,516 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of International Paper by 1,896.7% in the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after buying an additional 199,687 shares during the period. Franklin Resources Inc. lifted its position in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after buying an additional 4,960,005 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of International Paper during the 1st quarter valued at approximately $1,312,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Royal Bank of Canada boosted their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus began coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

International Paper Trading Up 1.0 %

Shares of International Paper stock opened at $47.60 on Tuesday. International Paper has a twelve month low of $31.76 and a twelve month high of $49.24. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $46.00 and a 200-day moving average price of $41.91. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 97.14 and a beta of 1.04.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Insider Buying and Selling at International Paper

In other news, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares in the company, valued at approximately $792,729.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the transaction, the director now directly owns 42,802 shares in the company, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock worth $809,922 over the last 90 days. 0.55% of the stock is owned by insiders.

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.