Alyeska Investment Group L.P. Trims Stock Position in International Paper Company $IP

Key Points

• Alyeska Investment Group L.P. reduced its stake in International Paper Company by 0.2% in the first quarter, now holding about 3.94 million shares valued at approximately $210.19 million.
• International Paper's recent quarterly earnings revealed an EPS of $0.20, missing projections by $0.18, despite a year-over-year revenue increase of 42.9%.
• The company announced a quarterly dividend of $0.4625 per share, yielding 3.8%, set to be paid on September 16th to shareholders of record on August 15th.

Alyeska Investment Group L.P. cut its position in International Paper Company (NYSE:IP - Free Report) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,939,836 shares of the basic materials company's stock after selling 8,916 shares during the period. International Paper accounts for 0.8% of Alyeska Investment Group L.P.'s investment portfolio, making the stock its 18th largest holding. Alyeska Investment Group L.P. owned approximately 0.75% of International Paper worth $210,190,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IP. Zions Bancorporation National Association UT purchased a new position in International Paper during the 1st quarter worth $34,000. Bernard Wealth Management Corp. purchased a new position in International Paper during the 4th quarter worth $37,000. Citizens National Bank Trust Department purchased a new position in International Paper during the 1st quarter worth $37,000. Grove Bank & Trust grew its position in International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after purchasing an additional 623 shares during the last quarter. Finally, Toth Financial Advisory Corp purchased a new position in International Paper during the 1st quarter worth $42,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on IP shares. Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $43.00 target price (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $55.65.

International Paper Price Performance

Shares of IP traded up $0.32 on Friday, reaching $48.63. The stock had a trading volume of 2,605,843 shares, compared to its average volume of 3,491,029. The firm has a market capitalization of $25.68 billion, a PE ratio of -486.30, a PEG ratio of 0.55 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $49.72 and a 200 day moving average of $49.28. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36.

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

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio is -1,850.00%.

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.