Dimensional Fund Advisors LP Reduces Stake in International Paper Company $IP

Key Points

• Dimensional Fund Advisors LP sold 49,982 shares of International Paper, reducing its ownership to 4,463,021 shares valued at approximately $238 million.
• Vanguard Group significantly increased its stake by 52%, holding now 62,623,540 shares worth over $3.34 billion.
• International Paper's stock is currently rated as a "Hold" by analysts, with an average target price of $55.46, despite experiencing a 0.5% decline in its stock price recently.

Dimensional Fund Advisors LP trimmed its position in International Paper Company (NYSE:IP - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,463,021 shares of the basic materials company's stock after selling 49,982 shares during the quarter. Dimensional Fund Advisors LP owned about 0.85% of International Paper worth $238,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in International Paper in the 1st quarter valued at approximately $34,000. Bernard Wealth Management Corp. purchased a new position in shares of International Paper during the fourth quarter worth $37,000. Citizens National Bank Trust Department acquired a new stake in shares of International Paper in the first quarter valued at $37,000. Transce3nd LLC purchased a new stake in shares of International Paper in the 4th quarter valued at $38,000. Finally, Grove Bank & Trust lifted its stake 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 acquiring an additional 623 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Up 2.1%

Shares of IP traded up $1.01 during mid-day trading on Friday, reaching $49.04. The company's stock had a trading volume of 2,267,954 shares, compared to its average volume of 6,450,185. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The company's 50 day moving average is $49.15 and its 200 day moving average is $49.83. The stock has a market cap of $25.89 billion, a PE ratio of -490.40, a price-to-earnings-growth ratio of 0.61 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.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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 negative net margin of 0.12% and a positive return on equity of 2.63%. International Paper's revenue was up 42.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. Equities analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IP. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. lowered 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 report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, International Paper has a consensus rating of "Hold" and an average price target of $55.46.

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.