Vanguard Group Inc. Has $2.99 Billion Stock Position in International Paper Company $IP

Vanguard Group Inc. boosted its holdings in International Paper Company (NYSE:IP) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,879,190 shares of the basic materials company’s stock after purchasing an additional 1,255,650 shares during the quarter. Vanguard Group Inc. owned 12.10% of International Paper worth $2,991,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IP. Rise Advisors LLC boosted its stake in 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 in the last quarter. Zions Bancorporation National Association UT acquired a new stake in International Paper during the 1st quarter valued at approximately $34,000. AlphaQuest LLC lifted its holdings in International Paper by 63,400.0% in 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 period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of International Paper during the 2nd quarter valued at about $33,000. Finally, Quintet Private Bank Europe S.A. bought a new stake in shares of International Paper in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the subject of several research reports. Bank of America raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Wells Fargo & Company reduced their price objective on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, October 31st. Seaport Res Ptn cut shares of International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Stifel Nicolaus set a $57.80 price target on International Paper and gave the stock a “buy” rating in a research note on Friday, October 17th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.92.

Insiders Place Their Bets

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

Shares of NYSE:IP opened at $35.58 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $18.79 billion, a PE ratio of -355.80, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. International Paper Company has a twelve month low of $35.56 and a twelve month high of $60.36. The firm’s 50 day moving average price is $43.65 and its 200-day moving average price is $46.83.

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

International Paper Announces Dividend

The business 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 dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.2%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

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.