ICA Group Wealth Management LLC Makes New Investment in International Paper (NYSE:IP)

ICA Group Wealth Management LLC acquired a new position in shares of International Paper (NYSE:IP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,230 shares of the basic materials company’s stock, valued at approximately $189,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SageView Advisory Group LLC boosted its position in shares of International Paper by 9.4% during the 4th quarter. SageView Advisory Group LLC now owns 22,688 shares of the basic materials company’s stock worth $824,000 after purchasing an additional 1,944 shares in the last quarter. Wellington Management Group LLP lifted its position in International Paper by 1,896.7% in 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 acquiring an additional 199,687 shares in the last quarter. Richardson Financial Services Inc. bought a new position in International Paper in the 4th quarter valued at about $232,000. Royal London Asset Management Ltd. lifted its position in International Paper by 4.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 279,590 shares of the basic materials company’s stock valued at $10,107,000 after acquiring an additional 12,097 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in International Paper in the 4th quarter valued at about $80,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IP. Wells Fargo & Company lifted their target price on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their price target for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average price target of $44.71.

International Paper Trading Down 0.7 %

Shares of IP stock traded down $0.32 during mid-day trading on Monday, reaching $44.57. The stock had a trading volume of 219,676 shares, compared to its average volume of 5,481,784. The stock’s 50-day moving average price is $39.97 and its two-hundred day moving average price is $37.77. International Paper has a 52-week low of $30.23 and a 52-week high of $46.34. The firm has a market capitalization of $15.48 billion, a PE ratio of 91.61 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. International Paper’s revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that International Paper will post 1.84 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, May 24th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s dividend payout ratio is currently 377.55%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $44.58, for a total transaction of $26,748.00. Following the transaction, the director now owns 45,479 shares in the company, valued at $2,027,453.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 3,000 shares of company stock worth $117,678 over the last 90 days. 0.55% of the stock is owned by company insiders.

About International Paper

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.