Wealthfront Advisers LLC Purchases Shares of 198,846 International Paper Company $IP

Wealthfront Advisers LLC acquired a new position in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 198,846 shares of the basic materials company’s stock, valued at approximately $7,576,000.

Several other large investors also recently made changes to their positions in the business. Meeder Advisory Services Inc. purchased a new position in shares of International Paper in the 2nd quarter valued at $209,000. Citizens Financial Group Inc. RI purchased a new stake in International Paper during the 2nd quarter worth $511,000. BlackRock Inc. purchased a new stake in International Paper during the 2nd quarter worth $1,940,896,000. Pallas Capital Advisors LLC acquired a new stake in International Paper in the 2nd quarter valued at $252,000. Finally, Deutsche Bank AG acquired a new stake in International Paper in the 2nd quarter valued at $77,604,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IP. UBS Group boosted their price objective on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their target price on International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wells Fargo & Company boosted their price target on International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Seaport Research Partners restated a “buy” rating and issued a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Stock Performance

Shares of IP stock opened at $40.99 on Thursday. 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 company’s fifty day moving average price is $39.00 and its two-hundred day moving average price is $37.90. The firm has a market capitalization of $21.71 billion, a P/E ratio of -6.29 and a beta of 0.94. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25.

International Paper (NYSE:IP) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the firm earned $0.20 earnings per share. The company’s revenue was down 11.3% on a year-over-year basis. On average, research analysts anticipate that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, August 14th. International Paper’s dividend payout ratio (DPR) is -28.37%.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $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 the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

About International Paper

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.