Alliancebernstein L.P. Has $29.53 Million Position in International Paper Company $IP

Key Points

• AllianceBernstein L.P. increased its holdings in International Paper Company by 47.0%, now owning approximately 553,438 shares worth about $29.5 million as of the last reporting period.
• Despite strong revenue of $6.77 billion in the last quarter, International Paper reported earnings per share (EPS) of only $0.20, falling short of the expected $0.38.
• International Paper announced a quarterly dividend of $0.4625 per share, reflecting a dividend yield of 3.9%, with a substantial payout ratio of -1,850.00%.

Alliancebernstein L.P. lifted its stake in International Paper Company (NYSE:IP - Free Report) by 47.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 553,438 shares of the basic materials company's stock after purchasing an additional 176,991 shares during the period. Alliancebernstein L.P. owned approximately 0.10% of International Paper worth $29,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new position in International Paper during the first quarter worth about $6,879,000. Atalanta Sosnoff Capital LLC raised its position in International Paper by 18.7% during the first quarter. Atalanta Sosnoff Capital LLC now owns 6,514 shares of the basic materials company's stock worth $348,000 after acquiring an additional 1,024 shares during the last quarter. Amundi raised its position in International Paper by 37.4% during the first quarter. Amundi now owns 1,863,216 shares of the basic materials company's stock worth $91,633,000 after acquiring an additional 507,290 shares during the last quarter. Perbak Capital Partners LLP acquired a new position in International Paper during the first quarter worth about $2,881,000. Finally, EP Wealth Advisors LLC acquired a new position in International Paper during the first quarter worth about $281,000. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Performance

Shares of International Paper stock traded down $0.52 during trading hours on Friday, reaching $46.01. The company's stock had a trading volume of 2,883,451 shares, compared to its average volume of 3,470,695. The stock has a market cap of $24.29 billion, a P/E ratio of -460.10, a price-to-earnings-growth ratio of 0.53 and a beta of 1.05. The company's 50 day simple moving average is $49.52 and its 200 day simple moving average is $49.08. International Paper Company has a one year low of $43.27 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33.

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

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.0%. International Paper's dividend payout ratio (DPR) is presently -1,850.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and upped their price target for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Zacks Research lowered shares of International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price target (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Finally, UBS Group assumed coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $55.65.

About International Paper

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.