Ashton Thomas Private Wealth LLC Makes New Investment in International Paper (NYSE:IP)

Ashton Thomas Private Wealth LLC bought a new position in International Paper (NYSE:IP) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,550 shares of the basic materials company’s stock, valued at approximately $110,000.

Other large investors have also added to or reduced their stakes in the company. 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 boosted its stake in shares of International Paper by 20.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after acquiring an additional 17,516 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after acquiring an additional 199,687 shares during the last quarter. Franklin Resources Inc. boosted its stake 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 worth $471,065,000 after acquiring an additional 4,960,005 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of International Paper during the 1st quarter worth $1,312,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 1.6 %

IP opened at $48.69 on Friday. The firm has a 50-day simple moving average of $46.35 and a two-hundred day simple moving average of $42.18. International Paper has a 52 week low of $31.76 and a 52 week high of $49.39. The company has a market capitalization of $16.91 billion, a PE ratio of 99.37 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

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

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the sale, the director now directly owns 42,802 shares in the company, valued at approximately $1,830,641.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the sale, the director now directly owns 42,802 shares in the company, valued at approximately $1,830,641.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,840 shares of company stock worth $898,268. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IP has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note 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. Royal Bank of Canada lifted their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial lifted their target price on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.21.

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.