Private Wealth Asset Management LLC Has $47,000 Holdings in International Paper Company $IP

Private Wealth Asset Management LLC grew its holdings in International Paper Company (NYSE:IP) by 78.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 997 shares of the basic materials company’s stock after purchasing an additional 439 shares during the quarter. Private Wealth Asset Management LLC’s holdings in International Paper were worth $47,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in International Paper by 52.0% in the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after buying an additional 21,428,455 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of International Paper by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock valued at $2,763,426,000 after acquiring an additional 4,201,422 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of International Paper by 19.4% in the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company’s stock valued at $914,712,000 after purchasing an additional 2,782,042 shares during the period. JPMorgan Chase & Co. boosted its position in shares of International Paper by 21.4% in the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock worth $481,203,000 after purchasing an additional 1,590,137 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of International Paper by 1.1% during the first quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock worth $428,941,000 after purchasing an additional 85,732 shares during the period. 81.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 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 $1,259,951.69. This trade represents a 24.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IP shares. Jefferies Financial Group cut their target price 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. JPMorgan Chase & Co. downgraded shares of International Paper from an “overweight” rating to a “neutral” rating and cut their price target for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. 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 report on Monday. Seaport Res Ptn lowered shares of International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 7th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.46.

International Paper Trading Up 0.6%

Shares of NYSE:IP opened at $46.93 on Thursday. The firm has a market cap of $24.78 billion, a price-to-earnings ratio of -469.30, a PEG ratio of 0.57 and a beta of 1.10. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company’s fifty day simple moving average is $47.19 and its 200 day simple moving average is $47.97. 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 (NYSE:IP) last released its 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 firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter last year, the company posted $0.55 EPS. International Paper’s revenue for the quarter was up 42.9% on a year-over-year basis. As a group, research analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

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

International Paper 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.