My Legacy Advisors LLC Has $1.21 Million Stake in International Paper (NYSE:IP)

My Legacy Advisors LLC increased its stake in shares of International Paper (NYSE:IP) by 5.8% during the first quarter, HoldingsChannel.com reports. The fund owned 22,627 shares of the basic materials company’s stock after purchasing an additional 1,235 shares during the period. My Legacy Advisors LLC’s holdings in International Paper were worth $1,207,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in International Paper during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in International Paper during the 4th quarter valued at approximately $26,000. Picton Mahoney Asset Management boosted its stake in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares during the period. Venturi Wealth Management LLC boosted its stake in International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 295 shares during the period. Finally, Bernard Wealth Management Corp. bought a new stake in International Paper during the 4th quarter valued at approximately $37,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. UBS Group began coverage on International Paper in a report on Wednesday, June 4th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $54.54.

Insider Buying and Selling at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

International Paper Price Performance

Shares of IP stock opened at $47.60 on Wednesday. The stock’s fifty day simple moving average is $47.15 and its 200 day simple moving average is $52.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 0.39 and a beta of 1.04. International Paper has a one year low of $41.50 and a one year high of $60.36.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the firm earned $0.17 EPS. International Paper’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.89%. International Paper’s payout ratio is 158.12%.

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.