Envestnet Portfolio Solutions Inc. Reduces Stake in International Paper Company $IP

Envestnet Portfolio Solutions Inc. lowered its position in International Paper Company (NYSE:IP) by 15.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,843 shares of the basic materials company’s stock after selling 1,765 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in International Paper were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Gentry Private Wealth LLC boosted its position in International Paper by 2.1% in the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after buying an additional 188 shares during the last quarter. Wright Investors Service Inc. boosted its stake in shares of International Paper by 2.9% in the second quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock worth $338,000 after buying an additional 201 shares during the last quarter. Greenleaf Trust boosted its stake in shares of International Paper by 2.5% in the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock worth $493,000 after buying an additional 224 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of International Paper by 2.6% in 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 last quarter. Finally, Csenge Advisory Group boosted its stake in shares of International Paper by 1.5% in the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock worth $867,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IP. UBS Group lowered their target price on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Seaport Res Ptn downgraded International Paper from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Zacks Research upgraded International Paper from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Wells Fargo & Company upped their target price on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of International Paper in a research note on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.85.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, 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 legal filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Performance

Shares of IP stock opened at $47.77 on Wednesday. The company has a market capitalization of $25.22 billion, a P/E ratio of -477.70, a P/E/G ratio of 0.58 and a beta of 1.10. The business’s 50 day moving average is $47.15 and its two-hundred day moving average is $47.82. 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 Company has a 12-month low of $43.27 and a 12-month high of $60.36.

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

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. International Paper’s dividend payout ratio (DPR) is presently -1,850.00%.

International Paper Company Profile

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.