ProShare Advisors LLC raised its holdings in International Paper Company (NYSE:IP – Free Report) by 44.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 152,365 shares of the basic materials company’s stock after buying an additional 46,758 shares during the quarter. ProShare Advisors LLC’s holdings in International Paper were worth $6,002,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. International Private Wealth Advisors LLC lifted its position in shares of International Paper by 4.1% during 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 purchasing an additional 243 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of International Paper by 3.3% during the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 244 shares in the last quarter. Horizon Investments LLC lifted its position in shares of International Paper by 3.3% during the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 267 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of International Paper by 0.6% during 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 purchasing an additional 268 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of International Paper by 5.2% during the third quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 271 shares in the last quarter. 81.95% of the stock is owned by institutional investors.
Insider Activity at International Paper
In other International Paper news, Director Scott Tozier purchased 10,000 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $31.30 per share, with a total value of $313,000.00. Following the completion of the transaction, the director directly owned 10,025 shares in the company, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anders Gustafsson purchased 13,217 shares of the stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the transaction, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 36,092 shares of company stock worth $1,313,064. Insiders own 0.21% of the company’s stock.
International Paper Stock Performance
International Paper (NYSE:IP – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. As a group, equities analysts forecast that International Paper Company will post 1.38 earnings per share for the current year.
International Paper Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.85 annualized dividend and a yield of 5.9%. International Paper’s payout ratio is currently -29.09%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on IP. UBS Group dropped their price target on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Citigroup lowered their price objective on shares of International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada lowered their price objective on shares of International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their price objective on shares of International Paper from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Finally, BNP Paribas Exane lowered their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.
Read Our Latest Stock Analysis on International Paper
International Paper Profile
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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