International Paper Company $IP Stake Cut by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its position in shares of International Paper Company (NYSE:IP) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,635 shares of the basic materials company’s stock after selling 22,434 shares during the quarter. Wealthfront Advisers LLC owned 0.05% of International Paper worth $13,517,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC increased its position in International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after buying an additional 346 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of International Paper during the first quarter valued at $34,000. AlphaQuest LLC increased its holdings in shares of International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares during the period. Citizens National Bank Trust Department bought a new position in International Paper during the first quarter valued at about $37,000. Finally, Quintet Private Bank Europe S.A. bought a new position in International Paper during the second quarter valued at about $37,000. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Down 0.5%

Shares of NYSE IP opened at $48.86 on Monday. International Paper Company has a one year low of $43.27 and a one year high of $60.36. The firm has a market capitalization of $25.80 billion, a PE ratio of -488.60, a PEG ratio of 0.59 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $47.20 and a two-hundred day moving average price of $47.88.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 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 business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company’s revenue was up 42.9% compared to the same quarter last year. As a group, analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.8%. International Paper’s dividend payout ratio is currently -1,850.00%.

Wall Street Analyst Weigh In

IP has been the subject of several research reports. Jefferies Financial Group decreased their target price on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of International Paper in a research note on Tuesday, October 14th. JPMorgan Chase & Co. lowered International Paper from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Stifel Nicolaus set a $57.80 price target on International Paper and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.85.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred 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 transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

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.