International Paper Company $IP Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH sold 45,200 shares of International Paper Company, reducing its stake by 28.2%, leaving it with 114,900 shares valued at approximately $6.11 million as of the latest SEC filing.
• International Paper reported a quarterly earnings miss, with an EPS of $0.20 compared to the consensus estimate of $0.38, despite revenue increasing by 42.9% year-over-year to $6.77 billion.
• The company declared a quarterly dividend of $0.4625 per share, with an annualized dividend yield of 3.9%, to be paid on September 16th to shareholders on record as of August 15th.

Erste Asset Management GmbH decreased its position in shares of International Paper Company (NYSE:IP - Free Report) by 28.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,900 shares of the basic materials company's stock after selling 45,200 shares during the quarter. Erste Asset Management GmbH's holdings in International Paper were worth $6,114,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IP. Zions Bancorporation National Association UT acquired a new stake in International Paper in the 1st quarter valued at $34,000. Bernard Wealth Management Corp. acquired a new stake in International Paper in the 4th quarter valued at $37,000. Citizens National Bank Trust Department acquired a new stake in International Paper in the 1st quarter valued at $37,000. Transce3nd LLC acquired a new stake in International Paper in the 4th quarter valued at $38,000. Finally, Grove Bank & Trust grew its stake in International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 623 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Trading Down 0.5%

Shares of IP stock opened at $47.07 on Thursday. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week 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. The stock's fifty day moving average is $49.13 and its two-hundred day moving average is $49.88. The firm has a market capitalization of $24.85 billion, a P/E ratio of -470.70, a PEG ratio of 0.61 and a beta of 1.04.

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

International Paper Dividend Announcement

The business 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 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is currently -1,850.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IP shares. Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 price target (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. UBS Group began coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.

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