BetterWealth LLC Takes $220,000 Position in International Paper (NYSE:IP)

BetterWealth LLC purchased a new stake in shares of International Paper (NYSE:IP) in the third quarter, HoldingsChannel.com reports. The fund purchased 4,500 shares of the basic materials company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of International Paper during the 2nd quarter worth approximately $26,000. MCF Advisors LLC lifted its stake in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of International Paper in the first quarter worth about $29,000. Eastern Bank acquired a new position in shares of International Paper in the third quarter worth about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of International Paper in the second quarter worth about $37,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Paper

In related news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the transaction, the director now owns 38,945 shares in the company, valued at $1,872,475.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,440 shares of company stock valued at $934,142. Insiders own 0.55% of the company’s stock.

International Paper Price Performance

IP traded up $1.23 during trading on Wednesday, reaching $48.76. The stock had a trading volume of 1,471,907 shares, compared to its average volume of 5,263,735. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 96.98 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. International Paper has a 1-year low of $31.76 and a 1-year high of $50.68. The stock has a 50 day moving average of $48.04 and a two-hundred day moving average of $44.32.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, equities analysts anticipate that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.79%. International Paper’s payout ratio is 377.55%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IP. Stifel Nicolaus began coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada boosted their price objective on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.46.

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.