GoalVest Advisory LLC Grows Stock Holdings in International Paper Company $IP

GoalVest Advisory LLC raised its position in shares of International Paper Company (NYSE:IP) by 6.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,760 shares of the basic materials company’s stock after buying an additional 1,827 shares during the period. GoalVest Advisory LLC’s holdings in International Paper were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in shares of International Paper by 8.8% during the second quarter. Envestnet Asset Management Inc. now owns 328,686 shares of the basic materials company’s stock valued at $15,392,000 after buying an additional 26,723 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs lifted its position in shares of International Paper by 5.0% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 23,950 shares of the basic materials company’s stock valued at $1,122,000 after buying an additional 1,144 shares during the last quarter. Ranch Capital Advisors Inc. lifted its position in shares of International Paper by 3.7% during the second quarter. Ranch Capital Advisors Inc. now owns 41,515 shares of the basic materials company’s stock valued at $1,944,000 after buying an additional 1,499 shares during the last quarter. AlphaQuest LLC lifted its position in shares of International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after buying an additional 634 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of International Paper by 1.4% during the second quarter. Asset Management One Co. Ltd. now owns 203,759 shares of the basic materials company’s stock valued at $9,542,000 after buying an additional 2,860 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on IP shares. BNP Paribas Exane decreased their price target on shares of International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of International Paper from $43.00 to $44.00 and gave the company an “underweight” rating in a research report on Tuesday, October 7th. Jefferies Financial Group decreased 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 raised shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Truist Financial decreased their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Paper has an average rating of “Hold” and an average price target of $53.85.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the firm’s 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 transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Performance

IP opened at $48.86 on Monday. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. 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 firm has a market capitalization of $25.80 billion, a PE ratio of -488.60, a P/E/G ratio of 0.59 and a beta of 1.10. The firm has a 50 day moving average of $47.20 and a two-hundred day moving average of $47.88.

International Paper (NYSE:IP) last posted 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). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.64 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.8%. International Paper’s dividend payout ratio 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.