Gentry Private Wealth LLC Invests $383,000 in International Paper (NYSE:IP)

Gentry Private Wealth LLC bought a new position in International Paper (NYSE:IP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,865 shares of the basic materials company’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ables Iannone Moore & Associates Inc. purchased a new stake in International Paper during the 4th quarter valued at about $37,000. Janney Montgomery Scott LLC grew its position in International Paper by 20.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after purchasing an additional 17,516 shares during the last quarter. Wellington Management Group LLP grew its position in International Paper by 1,896.7% during the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after purchasing an additional 199,687 shares during the last quarter. Franklin Resources Inc. grew its position in International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in International Paper during the 1st quarter valued at about $1,312,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and raised their price target for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. Stifel Nicolaus initiated coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target on the stock. Finally, Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

International Paper Price Performance

Shares of NYSE:IP opened at $47.11 on Friday. The firm’s 50 day moving average price is $45.92 and its 200-day moving average price is $41.73. International Paper has a twelve month low of $31.76 and a twelve month high of $49.24. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $16.36 billion, a PE ratio of 96.14 and a beta of 1.04.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.59 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Insiders Place Their Bets

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now owns 16,788 shares in the company, valued at approximately $792,729.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,000 shares of company stock worth $809,922. Company insiders own 0.55% of the company’s stock.

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.