AE Wealth Management LLC Decreases Position in International Paper Company (NYSE:IP)

AE Wealth Management LLC trimmed its position in shares of International Paper Company (NYSE:IP - Free Report) by 30.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,643 shares of the basic materials company's stock after selling 120,780 shares during the period. AE Wealth Management LLC owned approximately 0.05% of International Paper worth $14,919,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its holdings in shares of International Paper by 2.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company's stock valued at $751,000 after purchasing an additional 282 shares during the last quarter. Spire Wealth Management raised its position in International Paper by 2,343.9% in the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 1,547 shares during the last quarter. Korea Investment CORP boosted its stake in shares of International Paper by 220.6% during the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company's stock valued at $16,720,000 after purchasing an additional 213,783 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of International Paper by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after buying an additional 231 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in International Paper by 37.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company's stock valued at $1,194,000 after buying an additional 6,077 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Stock Up 1.5%

NYSE IP traded up $0.79 during trading hours on Thursday, hitting $54.89. The company's stock had a trading volume of 6,130,561 shares, compared to its average volume of 3,620,059. The company has a market capitalization of $28.98 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 0.49 and a beta of 1.02. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36. The company's 50-day simple moving average is $48.88 and its two-hundred day simple moving average is $50.92.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. Research analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Truist Financial set a $59.00 target price on International Paper in a research report on Wednesday, May 28th. UBS Group began coverage on International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 price target (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, International Paper has a consensus rating of "Hold" and an average price target of $55.65.

Insider Transactions at International Paper

In other 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 completion of the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at $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 available at this hyperlink. Insiders own 0.35% of the company's stock.

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.