Visionary Wealth Advisors Invests $1.11 Million in International Paper Company $IP

Visionary Wealth Advisors purchased a new stake in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 29,123 shares of the basic materials company’s stock, valued at approximately $1,110,000.

Several other large investors have also made changes to their positions in IP. Dynamic Technology Lab Private Ltd bought a new stake in International Paper in the first quarter worth approximately $249,000. Intech Investment Management LLC raised its holdings in shares of International Paper by 100.5% during the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after purchasing an additional 16,055 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of International Paper by 20.8% during the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 2,981 shares in the last quarter. Jump Financial LLC lifted its stake in shares of International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after purchasing an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in International Paper by 8.0% in the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after purchasing an additional 2,493 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction on Tuesday, August 4th. The shares were 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 of the company’s stock, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William Thomas Hamic sold 24,500 shares of the firm’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 in the company, valued at $4,406,422.40. This represents 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 corporate insiders.

International Paper Stock Performance

IP opened at $41.03 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $37.90. The firm has a market capitalization of $21.73 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 issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.19 billion. During the same period in the previous year, the company earned $0.20 earnings per share. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities analysts forecast that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, August 14th. International Paper’s dividend payout ratio is presently -28.37%.

Analyst Ratings Changes

Several research firms have weighed in on IP. JPMorgan Chase & Co. upgraded International Paper from a “neutral” rating to an “overweight” rating and raised their target price for the company from $51.00 to $61.00 in a report on Tuesday, July 28th. Seaport Research Partners restated a “buy” rating and issued a $46.00 price objective on shares of International Paper in a research note on Wednesday, August 12th. Citigroup raised their target price on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Loop Capital set a $61.00 target price on shares of International Paper in a report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average target price of $48.75.

International Paper Company 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.