First Nebraska Trust Co Invests $2.83 Million in International Paper Company $IP

First Nebraska Trust Co purchased a new position in International Paper Company (NYSE:IP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 74,175 shares of the basic materials company’s stock, valued at approximately $2,826,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. McIlrath & Eck LLC raised its stake in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after buying an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new stake in International Paper in the fourth quarter worth $25,000. Ascentis Independent Advisors bought a new stake in International Paper in the first quarter worth $28,000. DV Equities LLC purchased a new stake in shares of International Paper in the fourth quarter worth $29,000. Finally, Summit Securities Group LLC grew its stake in shares of International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 5,875 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 2.9%

International Paper stock opened at $41.53 on Friday. The firm has a market cap of $21.99 billion, a price-to-earnings ratio of -6.37 and a beta of 0.94. The stock has a fifty day simple moving average of $39.21 and a two-hundred day simple moving average of $37.92. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was down 11.3% on a year-over-year basis. Equities analysts predict that International Paper Company will post 1.34 EPS for the current fiscal year.

International Paper Announces Dividend

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

Insider Transactions at International Paper

In other International Paper news, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were 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 approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IP shares. Citigroup lifted their price target on International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada increased their price objective on shares of International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Loop Capital set a $61.00 price objective on shares of International Paper in a research note on Tuesday, July 28th. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a report on Monday, August 17th. Finally, Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Nine research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

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.