Bartlett & CO. Wealth Management LLC Buys 301 Shares of International Paper Company $IP

Bartlett & CO. Wealth Management LLC grew its position in shares of International Paper Company (NYSE:IP) by 17.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,003 shares of the basic materials company’s stock after purchasing an additional 301 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in International Paper were worth $94,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC grew its holdings in International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after buying an additional 346 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of International Paper during the 1st quarter valued at approximately $34,000. Citizens National Bank Trust Department bought a new position in shares of International Paper during the 1st quarter valued at approximately $37,000. Grove Bank & Trust grew its holdings in shares of International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 623 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. bought a new stake in International Paper in the second quarter worth $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

IP opened at $46.64 on Friday. The business has a fifty day moving average of $47.86 and a 200 day moving average of $48.41. The stock has a market cap of $24.62 billion, a P/E ratio of -466.40, a PEG ratio of 0.52 and a beta of 1.10. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. As a group, sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, August 15th. International Paper’s dividend payout ratio is currently -1,850.00%.

Analyst Ratings Changes

IP has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Wells Fargo & Company restated an “underweight” rating and set a $43.00 price objective (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.02.

Insider Buying and Selling

In other news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

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.