International Paper Company $IP Shares Purchased by NewSquare Capital LLC

NewSquare Capital LLC raised its holdings in International Paper Company (NYSE:IP) by 5.2% in the second quarter, Holdings Channel.com reports. The fund owned 185,805 shares of the basic materials company’s stock after buying an additional 9,213 shares during the quarter. NewSquare Capital LLC’s holdings in International Paper were worth $8,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IP. Vanguard Group Inc. increased its position in International Paper by 52.0% during the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in International Paper by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock valued at $2,763,426,000 after buying an additional 4,201,422 shares during the period. Bank of New York Mellon Corp increased its position in International Paper by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after purchasing an additional 1,592,411 shares in the last quarter. JPMorgan Chase & Co. increased its position in International Paper by 21.4% during the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock worth $481,203,000 after purchasing an additional 1,590,137 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in International Paper by 1.1% in the 1st quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock worth $428,941,000 after acquiring an additional 85,732 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling

In other International Paper 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 sale, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

International Paper Trading Down 4.7%

NYSE:IP opened at $36.81 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. International Paper Company has a 1-year low of $36.68 and a 1-year high of $60.36. The firm has a market capitalization of $19.44 billion, a price-to-earnings ratio of -368.10, a price-to-earnings-growth ratio of 0.54 and a beta of 1.10. The stock has a fifty day simple moving average of $46.52 and a 200 day simple moving average of $47.68.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The company’s revenue was up 56.4% compared to the same quarter last year. Sell-side analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.0%. International Paper’s payout ratio is presently -70.88%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Citigroup dropped their target price on International Paper from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday. Stifel Nicolaus set a $57.80 target price on International Paper and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Wells Fargo & Company dropped their target price on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.67.

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.