International Paper Company $IP Stock Holdings Lessened by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has reduced its holdings in International Paper by 41.3%, selling 530,840 shares and now owning approximately 0.14% of the company, worth $40.21 million.
• International Paper reported earnings per share of $0.20 for the last quarter, missing analyst expectations by $0.18, despite revenue exceeding projections at $6.77 billion.
• The company declared a quarterly dividend of $0.4625 per share, representing an annualized dividend yield of 3.8%, with an ex-dividend date of August 15th.

Adage Capital Partners GP L.L.C. cut its holdings in International Paper Company (NYSE:IP - Free Report) by 41.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753,695 shares of the basic materials company's stock after selling 530,840 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.14% of International Paper worth $40,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of IP. Vanguard Group Inc. grew its stake in shares of International Paper by 52.0% in 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 grew its stake in shares of International Paper by 8.8% in the first 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 purchasing an additional 4,201,422 shares during the last quarter. Bank of New York Mellon Corp increased its position in International Paper by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock valued at $914,712,000 after purchasing an additional 2,782,042 shares during the period. T. Rowe Price Investment Management Inc. increased its position in International Paper by 230.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company's stock valued at $211,543,000 after purchasing an additional 2,763,634 shares during the period. Finally, Nuveen LLC bought a new stake in International Paper during the 1st quarter valued at approximately $132,900,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

IP traded down $1.35 on Monday, reaching $47.34. The stock had a trading volume of 4,907,215 shares, compared to its average volume of 6,292,493. International Paper Company has a 12-month low of $43.27 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. The business's 50-day moving average price is $49.72 and its two-hundred day moving average price is $49.23. The company has a market cap of $24.99 billion, a P/E ratio of -473.40, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm's revenue was up 42.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. Sell-side analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.9%. International Paper's payout ratio is presently -1,850.00%.

Analyst Ratings Changes

Several research firms have weighed in on IP. Truist Financial set a $59.00 price objective on International Paper in a research report on Wednesday, May 28th. Zacks Research lowered shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. UBS Group started coverage on International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective for the company. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $55.00 to $57.00 in a research note on Thursday, August 28th. Finally, Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating, one has 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 a consensus target price of $55.65.

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.