EverSource Wealth Advisors LLC Buys 4,044 Shares of International Paper (NYSE:IP)

EverSource Wealth Advisors LLC lifted its position in International Paper (NYSE:IP) by 408.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,034 shares of the basic materials company’s stock after purchasing an additional 4,044 shares during the period. EverSource Wealth Advisors LLC’s holdings in International Paper were worth $234,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Retirement Systems of Alabama grew its position in International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after buying an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of International Paper by 27.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 251 shares during the last quarter. Czech National Bank raised its stake in International Paper by 0.5% in the first quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 295 shares in the last quarter. Altrius Capital Management Inc lifted its position in International Paper by 0.3% during the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock valued at $4,854,000 after purchasing an additional 296 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in International Paper by 4.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after buying an additional 318 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the transaction, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the transaction, the director now directly owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,440 shares of company stock worth $927,956. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 1.1 %

NYSE IP opened at $48.09 on Thursday. The stock has a 50-day moving average of $47.15 and a 200-day moving average of $42.96. 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 1-year low of $31.76 and a 1-year high of $50.68. The firm has a market cap of $16.71 billion, a PE ratio of 98.14 and a beta of 1.04.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.59 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is 377.55%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Royal Bank of Canada raised their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus initiated coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.