Allianz Asset Management GmbH Has $17.70 Million Stock Position in International Paper Company $IP

Key Points

• Allianz Asset Management GmbH has significantly reduced its stake in International Paper Company by 54.7% during the second quarter, leaving them with approximately $17.70 million worth of shares.
• International Paper recently reported earnings of $0.20 per share, falling short of consensus estimates, although its revenue for the quarter increased by 42.9% year-over-year.
• The company announced a quarterly dividend of $0.4625 per share to be paid on December 16, representing an annualized yield of 4.0%.

Allianz Asset Management GmbH reduced its holdings in International Paper Company (NYSE:IP - Free Report) by 54.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 378,008 shares of the basic materials company's stock after selling 456,899 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of International Paper worth $17,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Rise Advisors LLC increased its position in International Paper by 281.3% in the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 346 shares during the period. Zions Bancorporation National Association UT acquired a new position in International Paper in the 1st quarter valued at approximately $34,000. Citizens National Bank Trust Department acquired a new position in International Paper in the 1st quarter valued at approximately $37,000. Quintet Private Bank Europe S.A. acquired a new position in International Paper in the 2nd quarter valued at approximately $37,000. Finally, Private Wealth Asset Management LLC increased its position in International Paper by 78.7% in the 2nd quarter. Private Wealth Asset Management LLC now owns 997 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 439 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 0.1%

Shares of NYSE IP opened at $46.69 on Monday. The firm has a market cap of $24.65 billion, a PE ratio of -466.90, a P/E/G ratio of 0.57 and a beta of 1.10. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The company's fifty day simple moving average is $47.14 and its 200 day simple moving average is $47.82. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results 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 company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm's revenue was up 42.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.0%. International Paper's dividend payout ratio is presently -1,850.00%.

Insider Transactions at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president directly owned 27,673 shares of the company's stock, valued at $1,259,951.69. This represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of International Paper from a "strong sell" rating to a "hold" rating in a research report on Friday, October 10th. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a research note on Saturday. Jefferies Financial Group reduced their price objective on shares of International Paper from $61.00 to $59.00 and set a "buy" rating on the stock in a research note on Friday, September 26th. UBS Group reduced their price objective on shares of International Paper from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, October 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of International Paper in a research note on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $53.85.

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.

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