National Pension Service Purchases 3,450 Shares of International Paper Company $IP

National Pension Service boosted its position in International Paper Company (NYSE:IP) by 0.5% in the second quarter, Holdings Channel.com reports. The firm owned 708,534 shares of the basic materials company’s stock after purchasing an additional 3,450 shares during the quarter. National Pension Service’s holdings in International Paper were worth $33,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IP. Rise Advisors LLC increased its stake in shares of International Paper by 281.3% in the first 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 during the period. AlphaQuest LLC grew its holdings in International Paper by 63,400.0% during the 2nd quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 634 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in International Paper in the 2nd quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new position in International Paper in the 1st quarter valued at approximately $34,000. Finally, Quintet Private Bank Europe S.A. bought a new position in shares of International Paper during the second quarter valued at $37,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

International Paper Stock Performance

IP stock opened at $37.34 on Friday. The firm has a market cap of $19.72 billion, a PE ratio of -373.40, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $44.48 and a 200-day moving average price of $47.09. International Paper Company has a 1-year low of $35.79 and a 1-year high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, equities research analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 5.0%. International Paper’s dividend payout ratio (DPR) is -70.88%.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of recent research reports. Seaport Res Ptn downgraded International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Stifel Nicolaus set a $57.80 price target on International Paper and gave the company a “buy” rating in a research report on Friday, October 17th. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Jefferies Financial Group cut their price objective on International Paper from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of International Paper from $54.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Hold” and an average price target of $50.92.

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.