Hantz Financial Services Inc. lifted its stake in International Paper Company (NYSE:IP – Free Report) by 27.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 123,902 shares of the basic materials company’s stock after acquiring an additional 27,047 shares during the quarter. Hantz Financial Services Inc.’s holdings in International Paper were worth $4,880,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Private Wealth Advisors LLC increased its position in shares of International Paper by 4.1% in the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 243 shares during the last quarter. Independent Advisor Alliance increased its position in shares of International Paper by 3.3% in the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after acquiring an additional 244 shares during the last quarter. Horizon Investments LLC increased its position in shares of International Paper by 3.3% in the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock valued at $333,000 after acquiring an additional 267 shares during the last quarter. Rafferty Asset Management LLC raised its stake in International Paper by 0.6% in the third quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company’s stock valued at $2,088,000 after buying an additional 268 shares during the period. Finally, Ballentine Partners LLC raised its stake in International Paper by 5.2% in the third quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company’s stock valued at $253,000 after buying an additional 271 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on IP shares. JPMorgan Chase & Co. dropped their price objective on International Paper from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Wells Fargo & Company upgraded International Paper from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $39.00 in a research note on Monday, May 4th. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Friday, May 1st. Stifel Nicolaus dropped their price objective on International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a research note on Monday, February 9th. Finally, Weiss Ratings lowered International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.73.
Insider Buying and Selling
In related news, Director Anders Gustafsson purchased 13,217 shares of International Paper stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average price of $37.83 per share, with a total value of $499,999.11. Following the completion of the transaction, the director directly owned 26,092 shares of the company’s stock, valued at $987,060.36. This represents a 102.66% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Tozier purchased 10,000 shares of International Paper stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the transaction, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. This represents a 40,000.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 36,092 shares of company stock worth $1,313,064 in the last three months. 0.21% of the stock is currently owned by company insiders.
International Paper Price Performance
International Paper stock opened at $31.28 on Tuesday. International Paper Company has a 12 month low of $29.26 and a 12 month high of $56.13. The stock’s 50 day moving average is $34.25 and its 200-day moving average is $38.65. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of -4.92 and a beta of 0.93.
International Paper (NYSE:IP – Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. International Paper’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. Equities research analysts expect that International Paper Company will post 1.38 EPS for the current year.
International Paper Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.85 dividend on an annualized basis and a yield of 5.9%. International Paper’s dividend payout ratio is currently -29.09%.
About International Paper
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.
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