Northwestern Mutual Wealth Management Co. Takes Position in International Paper Company $IP

Northwestern Mutual Wealth Management Co. acquired a new stake in International Paper Company (NYSE:IPFree Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,976 shares of the basic materials company’s stock, valued at approximately $494,000.

Several other large investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in International Paper during the 2nd quarter worth approximately $4,791,000. Evolve Private Wealth LLC purchased a new position in International Paper in the 2nd quarter valued at approximately $258,000. Westpac Banking Corp acquired a new position in shares of International Paper in the second quarter worth $40,000. Korea Investment CORP acquired a new position in shares of International Paper in the second quarter worth $8,214,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of International Paper during the second quarter worth $204,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IP shares. Seaport Research Partners reiterated a “buy” rating and issued a $46.00 target price on shares of International Paper in a report on Wednesday, August 12th. UBS Group increased their price target on International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Bank of America cut International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Tuesday, July 14th. Citigroup upped their target price on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.75.

Read Our Latest Research Report on International Paper

International Paper Stock Up 0.8%

IP stock opened at $41.31 on Thursday. The stock has a market cap of $21.88 billion, a P/E ratio of -6.34 and a beta of 0.94. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25. The company’s 50 day moving average is $39.51 and its two-hundred day moving average is $37.85.

International Paper (NYSE:IPGet Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the firm posted $0.20 EPS. The company’s revenue was down 11.3% on a year-over-year basis. Research analysts expect that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. International Paper’s payout ratio is -28.37%.

International Paper Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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