Summit Trail Advisors LLC Makes New Investment in International Paper (NYSE:IP)

Summit Trail Advisors LLC bought a new position in shares of International Paper (NYSE:IP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,245 shares of the basic materials company’s stock, valued at approximately $313,000.

Several other hedge funds have also modified their holdings of the business. Ables Iannone Moore & Associates Inc. acquired a new position in International Paper during the fourth quarter worth about $37,000. Janney Montgomery Scott LLC raised its holdings in International Paper by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after purchasing an additional 17,516 shares during the last quarter. Wellington Management Group LLP raised its holdings in International Paper by 1,896.7% during the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after purchasing an additional 199,687 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in International Paper during the first quarter worth $1,312,000. Finally, Brookstone Capital Management increased its position in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after buying an additional 237,837 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

International Paper stock opened at $48.42 on Tuesday. The stock has a fifty day moving average price of $47.09 and a 200 day moving average price of $42.87. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The firm has a market capitalization of $16.82 billion, a P/E ratio of 98.82 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted 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. 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 during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.82%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the sale, the director now owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock valued at $927,956 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IP. Royal Bank of Canada boosted their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, August 14th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Stifel Nicolaus started coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.21.

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.