GW&K Investment Management LLC Lowers Position in International Paper Company $IP

Key Points

• GW&K Investment Management cut its International Paper stake by 8.7% in the fourth quarter, selling 56,800 shares and ending with 599,408 shares valued at about $23.6 million.
• International Paper’s stock fell 6.8% and the company reported weaker-than-expected quarterly results, with EPS of $0.15 versus $0.18 expected and revenue of $5.97 billion versus $6.02 billion expected.
• The company declared a quarterly dividend of $0.4625 per share, implying an annualized yield of 5.8%, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $43.73.

GW&K Investment Management LLC decreased its position in International Paper Company (NYSE:IP - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 599,408 shares of the basic materials company's stock after selling 56,800 shares during the period. GW&K Investment Management LLC owned about 0.11% of International Paper worth $23,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC boosted its holdings in shares of International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 229 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of International Paper by 4.2% in the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company's stock valued at $236,000 after purchasing an additional 242 shares during the period. International Private Wealth Advisors LLC lifted its stake in shares of International Paper by 4.1% in the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company's stock valued at $243,000 after purchasing an additional 243 shares during the period. Independent Advisor Alliance lifted its stake in shares of International Paper by 3.3% in the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock valued at $305,000 after purchasing an additional 244 shares during the period. Finally, Horizon Investments LLC lifted its stake in shares of International Paper by 3.3% in the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock valued at $333,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Activity

In other International Paper news, Director Scott Tozier purchased 10,000 shares of International Paper stock in a transaction on Friday, May 1st. The shares were bought at an average price of $31.30 per share, with a total value of $313,000.00. Following the completion of the acquisition, the director directly owned 10,025 shares of the company's stock, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on IP shares. BNP Paribas Exane reduced their price objective on shares of International Paper from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of International Paper in a research note on Wednesday, April 1st. They issued a "hold" rating and a $38.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of International Paper from $46.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Citigroup reduced their price objective on shares of International Paper from $44.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Finally, Seaport Research Partners upgraded shares of International Paper from a "neutral" rating to a "buy" rating and set a $39.00 price objective for the company in a research note on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.73.

International Paper Stock Down 6.8%

Shares of NYSE IP opened at $31.80 on Thursday. International Paper Company has a 12-month low of $29.26 and a 12-month high of $56.13. The company has a market capitalization of $16.84 billion, a PE ratio of -5.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. The firm's 50-day moving average is $33.60 and its two-hundred day moving average is $38.31.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business had revenue of $5.97 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same period last year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts anticipate that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, May 22nd. International Paper's dividend payout ratio is -29.09%.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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