Ascent Group LLC Has $2.61 Million Holdings in International Paper Company $IP

Ascent Group LLC lifted its position in shares of International Paper Company (NYSE:IP) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,628 shares of the basic materials company’s stock after buying an additional 487 shares during the quarter. Ascent Group LLC’s holdings in International Paper were worth $2,605,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its position in shares of International Paper by 2.0% during the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock worth $751,000 after buying an additional 282 shares during the period. Spire Wealth Management increased its position in shares of International Paper by 2,343.9% during the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company’s stock worth $86,000 after buying an additional 1,547 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of International Paper during the first quarter worth $313,000. Goldman Sachs Group Inc. increased its position in shares of International Paper by 78.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company’s stock worth $259,310,000 after buying an additional 2,143,027 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock worth $480,000 after buying an additional 231 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 1.3%

International Paper stock opened at $47.25 on Friday. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of -472.50, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10. The firm’s fifty day moving average price is $47.69 and its two-hundred day moving average price is $48.35. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period last year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was up 42.9% on a year-over-year basis. On average, equities research analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, August 15th. International Paper’s dividend payout ratio (DPR) is presently -1,850.00%.

Insider Buying and Selling at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on IP. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Wells Fargo & Company restated an “underweight” rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 27th. JPMorgan Chase & Co. cut shares of International Paper from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of International Paper in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.02.

About International Paper

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.