Sanctuary Advisors LLC Purchases New Holdings in International Paper Company $IP

Sanctuary Advisors LLC purchased a new position in shares of International Paper Company (NYSE:IP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,987 shares of the basic materials company’s stock, valued at approximately $609,000.

Several other institutional investors and hedge funds have also made changes to their positions in IP. Capital International Investors boosted its stake in International Paper by 29.4% during the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after buying an additional 14,422,616 shares during the last quarter. Capital Research Global Investors raised its stake in shares of International Paper by 0.4% in the 4th quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after acquiring an additional 204,654 shares during the period. BlackRock Inc. purchased a new position in shares of International Paper during the second quarter worth $1,940,896,000. State Street Corp boosted its holdings in International Paper by 1.3% during the 4th quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock valued at $1,182,083,000 after acquiring an additional 397,673 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of International Paper in the second quarter valued at approximately $689,498,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. The trade was a 18.64% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

International Paper Stock Performance

International Paper stock opened at $39.34 on Friday. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of -6.03 and a beta of 0.94. The stock has a fifty day moving average of $39.62 and a two-hundred day moving average of $37.81. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, analysts anticipate that International Paper Company will post 1.34 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.7%. International Paper’s dividend payout ratio is -28.37%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IP shares. Wells Fargo & Company lifted their price objective on International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 price target on shares of International Paper in a research report on Wednesday, August 12th. Royal Bank Of Canada increased their target price on shares of International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Finally, Loop Capital set a $61.00 target price on International Paper in a research report on Tuesday, July 28th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.