Sequoia Financial Advisors LLC Raises Stock Holdings in International Paper Company $IP

Sequoia Financial Advisors LLC lifted its holdings in International Paper Company (NYSE:IP) by 70.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,364 shares of the basic materials company’s stock after buying an additional 6,370 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in International Paper were worth $720,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Gentry Private Wealth LLC increased its holdings in International Paper by 2.1% during the 2nd quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 188 shares during the period. Wright Investors Service Inc. increased its holdings in International Paper by 2.9% during the 2nd quarter. Wright Investors Service Inc. now owns 7,226 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 201 shares during the period. Greenleaf Trust increased its holdings in International Paper by 2.5% during the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 224 shares during the period. Csenge Advisory Group increased its holdings in International Paper by 1.5% during the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company’s stock worth $867,000 after purchasing an additional 234 shares during the period. Finally, Blue Trust Inc. increased its holdings in International Paper by 10.1% during the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 259 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by insiders.

International Paper Stock Up 0.1%

International Paper stock opened at $46.69 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The stock has a market capitalization of $24.65 billion, a price-to-earnings ratio of -466.90, a PEG ratio of 0.57 and a beta of 1.10. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The business has a fifty day moving average price of $47.14 and a 200-day moving average price of $47.83.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. Equities research analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. International Paper’s payout ratio is -1,850.00%.

Analyst Ratings Changes

Several research analysts have commented on IP shares. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Tuesday, October 7th. BNP Paribas Exane reduced their price objective on International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a report on Wednesday, October 8th. UBS Group dropped their target price on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of International Paper in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. cut International Paper from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.85.

About International Paper

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.