International Paper Company $IP Position Reduced by Caption Management LLC

Key Points

• Caption Management LLC reduced its stake in International Paper by 78.6%, owning 32,500 shares valued at $1.73 million after selling 119,100 shares in the first quarter.
• Several institutional investors have increased their holdings in International Paper, with Vanguard Group raising its stake by 52.0% to own shares valued at approximately $3.34 billion.
• International Paper reported a quarterly earnings miss of $0.20 per share, falling short of the expected $0.38 estimate, while its revenue was up 42.9% year-over-year at $6.77 billion.

Caption Management LLC trimmed its position in International Paper Company (NYSE:IP - Free Report) by 78.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,500 shares of the basic materials company's stock after selling 119,100 shares during the period. Caption Management LLC's holdings in International Paper were worth $1,734,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IP. Vanguard Group Inc. grew its stake in International Paper by 52.0% in the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in International Paper by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company's stock worth $2,763,426,000 after purchasing an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp grew its stake in International Paper by 19.4% in the first quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock worth $914,712,000 after purchasing an additional 2,782,042 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in International Paper by 230.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company's stock worth $211,543,000 after purchasing an additional 2,763,634 shares in the last quarter. Finally, Nuveen LLC acquired a new position in International Paper in the first quarter worth about $132,900,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on IP shares. Zacks Research downgraded International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Truist Financial set a $59.00 target price on International Paper in a research note on Wednesday, May 28th. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and lifted their target price for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Finally, Wells Fargo & Company restated 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. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, International Paper presently has an average rating of "Hold" and a consensus price target of $55.65.

International Paper Stock Performance

Shares of IP traded up $0.32 during mid-day trading on Friday, reaching $48.63. 2,605,843 shares of the company's stock traded hands, compared to its average volume of 3,491,029. The business's 50-day moving average price is $49.72 and its 200-day moving average price is $49.33. The stock has a market capitalization of $25.68 billion, a P/E ratio of -486.30, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. 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 Company has a 12 month low of $43.27 and a 12 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 business had revenue of $6.77 billion for 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 business's quarterly revenue was up 42.9% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Equities analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared 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 payout ratio is -1,850.00%.

International Paper 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.