United Capital Financial Advisors LLC Takes Position in International Paper Company $IP

United Capital Financial Advisors LLC acquired a new position in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 22,124 shares of the basic materials company’s stock, valued at approximately $843,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC raised its stake in International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after buying an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of International Paper during the 4th quarter worth about $25,000. Aberdeen Wealth Management LLC acquired a new position in shares of International Paper during the 2nd quarter worth about $27,000. Ascentis Independent Advisors purchased a new position in shares of International Paper in the 1st quarter valued at about $28,000. Finally, DV Equities LLC purchased a new position in shares of International Paper in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Up 0.1%

International Paper stock opened at $39.34 on Monday. The company has a market capitalization of $20.83 billion, a P/E ratio of -6.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The stock has a 50-day simple moving average of $39.62 and a 200-day simple moving average of $37.74.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. Equities research analysts expect that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s payout ratio is presently -28.37%.

Insiders Place Their Bets

In related news, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Truist Financial reiterated a “buy” rating and issued a $49.00 price target (up from $46.00) on shares of International Paper in a research note on Friday, July 31st. Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. upgraded shares of International Paper from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $51.00 to $61.00 in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.