NewSquare Capital LLC Has $8.59 Million Stock Position in International Paper Company $IP

NewSquare Capital LLC boosted its holdings in shares of International Paper Company (NYSE:IP) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,805 shares of the basic materials company’s stock after buying an additional 9,213 shares during the quarter. NewSquare Capital LLC’s holdings in International Paper were worth $8,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in International Paper by 52.0% during the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of International Paper by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after acquiring an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of International Paper by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock worth $877,496,000 after acquiring an additional 1,592,411 shares in the last quarter. JPMorgan Chase & Co. increased its position in International Paper by 21.4% in the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock valued at $481,203,000 after buying an additional 1,590,137 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in International Paper by 1.1% during the 1st quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock worth $428,941,000 after purchasing an additional 85,732 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Down 4.7%

IP stock opened at $36.81 on Tuesday. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of -368.10, a PEG ratio of 0.54 and a beta of 1.10. The business’s 50-day moving average is $46.52 and its 200 day moving average is $47.68. International Paper Company has a 12-month low of $36.68 and a 12-month high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm’s quarterly revenue was up 56.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. On average, sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.0%. International Paper’s payout ratio is -70.88%.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IP has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday. Royal Bank Of Canada reduced their target price on International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial dropped their price target on International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, Stifel Nicolaus set a $57.80 target price on shares of International Paper and gave the stock a “buy” rating in a report on Friday, October 17th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.67.

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.