American Century Companies Inc. Has $15.20 Million Stock Position in International Paper Company $IP

Key Points

• American Century Companies Inc. reduced its stake in International Paper by 54.0%, selling 334,307 shares during the first quarter, now holding 284,980 shares valued at $15.2 million.
• International Paper reported $0.20 EPS, missing the expected $0.38, while its quarterly revenue rose 42.9% year-over-year to $6.77 billion.
• The company declared a quarterly dividend of $0.4625 per share, with a yield of 3.8%, despite a significantly high payout ratio of -1,850.00%.

American Century Companies Inc. cut its position in International Paper Company (NYSE:IP - Free Report) by 54.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,980 shares of the basic materials company's stock after selling 334,307 shares during the quarter. American Century Companies Inc. owned approximately 0.05% of International Paper worth $15,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ethic Inc. grew its stake in International Paper by 41.6% in the 1st quarter. Ethic Inc. now owns 31,794 shares of the basic materials company's stock valued at $1,706,000 after buying an additional 9,337 shares during the last quarter. Aberdeen Group plc grew its stake in International Paper by 104.6% in the 1st quarter. Aberdeen Group plc now owns 164,502 shares of the basic materials company's stock valued at $8,799,000 after buying an additional 84,096 shares during the last quarter. Horizon Investments LLC grew its stake in International Paper by 60.5% in the 1st quarter. Horizon Investments LLC now owns 7,629 shares of the basic materials company's stock valued at $407,000 after buying an additional 2,877 shares during the last quarter. Sei Investments Co. grew its stake in International Paper by 19.8% in the 1st quarter. Sei Investments Co. now owns 477,800 shares of the basic materials company's stock valued at $25,586,000 after buying an additional 78,970 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in International Paper by 232.3% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 118,315 shares of the basic materials company's stock valued at $6,312,000 after buying an additional 82,706 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IP has been the topic of a number of research analyst reports. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and increased their price target for the company from $55.00 to $57.00 in a report on Thursday. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday, May 28th. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. 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.com, International Paper has a consensus rating of "Hold" and a consensus target price of $55.65.

International Paper Price Performance

Shares of NYSE:IP traded up $0.61 during midday trading on Thursday, reaching $48.98. 3,211,767 shares of the company's stock were exchanged, compared to its average volume of 6,387,842. The company's 50 day simple moving average is $49.37 and its two-hundred day simple moving average is $49.66. The firm has a market capitalization of $25.86 billion, a PE ratio of -489.80, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04. International Paper Company has a 12 month low of $43.27 and a 12 month 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 released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The business 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%.International Paper's revenue was up 42.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Equities research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio (DPR) is presently -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.