OneDigital Investment Advisors LLC Takes Position in International Paper Company $IP

OneDigital Investment Advisors LLC purchased a new position in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,603 shares of the basic materials company’s stock, valued at approximately $861,000.

A number of other large investors have also modified their holdings of IP. DNB Asset Management AS raised its holdings in shares of International Paper by 144.2% during the fourth quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company’s stock valued at $10,199,000 after buying an additional 152,907 shares during the last quarter. D.A. Davidson & CO. boosted its position in International Paper by 29.6% during the 1st quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company’s stock worth $4,921,000 after acquiring an additional 31,518 shares during the period. Bellwether Advisors LLC acquired a new position in shares of International Paper during the first quarter valued at $2,615,000. Norges Bank acquired a new stake in International Paper in the fourth quarter worth about $250,093,000. Finally, Franklin Resources Inc. increased its stake in International Paper by 81.6% during the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after buying an additional 6,663,986 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a research note on Monday. Loop Capital set a $61.00 price target on shares of International Paper in a report on Tuesday, July 28th. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Citigroup upped their target price on International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

International Paper Trading Down 1.1%

NYSE:IP opened at $40.29 on Tuesday. The stock has a market cap of $21.34 billion, a PE ratio of -6.18 and a beta of 0.94. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The stock’s 50-day moving average is $38.69 and its two-hundred day moving average is $37.89.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. As a group, equities research analysts forecast that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.6%. International Paper’s dividend payout ratio is currently -28.37%.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.