International Paper (NYSE:IP) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its position in shares of International Paper (NYSE:IP) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,402 shares of the basic materials company’s stock after acquiring an additional 731 shares during the quarter. Bleakley Financial Group LLC’s holdings in International Paper were worth $264,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of International Paper by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after acquiring an additional 5,492,035 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of International Paper by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock valued at $613,367,000 after purchasing an additional 8,132,332 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of International Paper during the 2nd quarter valued at $119,012,000. Samlyn Capital LLC acquired a new stake in shares of International Paper during the 2nd quarter worth $88,966,000. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of International Paper in the 2nd quarter worth $81,187,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP stock opened at $49.04 on Thursday. The company has a market capitalization of $17.03 billion, a PE ratio of 100.08 and a beta of 1.04. The firm has a fifty day simple moving average of $48.10 and a 200-day simple moving average of $44.35. 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 has a twelve month low of $31.76 and a twelve month high of $50.68.

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

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, November 15th. International Paper’s payout ratio is 377.55%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IP. Wells Fargo & Company boosted their price target on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Finally, Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Three investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.46.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $46.10, for a total value of $27,660.00. Following the completion of the sale, the director now directly owns 41,002 shares of the company’s stock, valued at $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock valued at $934,142 in the last three months. Corporate insiders own 0.55% of the company’s stock.

International Paper 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.