Envestnet Portfolio Solutions Inc. Trims Stock Position in International Paper Company (NYSE:IP)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of International Paper Company (NYSE:IP) by 40.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 11,608 shares of the basic materials company’s stock after selling 7,946 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in International Paper were worth $619,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. SPC Financial Inc. raised its stake in shares of International Paper by 1.4% during the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after buying an additional 200 shares during the last quarter. Inspire Advisors LLC raised its stake in shares of International Paper by 1.7% during the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after buying an additional 204 shares during the last quarter. Picton Mahoney Asset Management raised its stake in shares of International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after buying an additional 215 shares during the last quarter. Summit Financial LLC raised its stake in shares of International Paper by 4.3% during the 4th quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company’s stock valued at $293,000 after buying an additional 224 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in shares of International Paper by 6.0% during the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company’s stock valued at $223,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Wells Fargo & Company restated an “underweight” rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Finally, UBS Group assumed coverage on International Paper in a research report on Wednesday, June 4th. They set a “buy” rating and a $60.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.54.

International Paper Price Performance

NYSE:IP opened at $46.61 on Friday. International Paper Company has a 12 month low of $41.50 and a 12 month high of $60.36. The stock has a 50 day moving average of $47.03 and a two-hundred day moving average of $51.38. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a market cap of $24.61 billion, a P/E ratio of 39.84, a price-to-earnings-growth ratio of 0.42 and a beta of 1.04.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter last year, the firm posted $0.17 earnings per share. International Paper’s quarterly revenue was up 27.8% on a year-over-year basis. On average, analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.97%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

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.