International Paper Company $IP Shares Sold by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. has reduced its holdings in International Paper Company by 70.8% in the first quarter, now owning 17,336 shares valued at $925,000.
• Vanguard Group Inc. increased its stake in International Paper by 52.0%, acquiring an additional 21.4 million shares, bringing its total ownership to 62.6 million shares.
• International Paper has recently declared a quarterly dividend of $0.4625 per share, representing an annualized dividend yield of 3.9%.

Fuller & Thaler Asset Management Inc. lowered its stake in shares of International Paper Company (NYSE:IP - Free Report) by 70.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,336 shares of the basic materials company's stock after selling 42,064 shares during the period. Fuller & Thaler Asset Management Inc.'s holdings in International Paper were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Zions Bancorporation National Association UT purchased a new stake in shares of International Paper during the 1st quarter valued at $34,000. Bernard Wealth Management Corp. purchased a new stake in shares of International Paper during the 4th quarter valued at $37,000. Citizens National Bank Trust Department purchased a new stake in shares of International Paper during the 1st quarter valued at $37,000. Transce3nd LLC purchased a new stake in shares of International Paper during the 4th quarter valued at $38,000. Finally, Grove Bank & Trust lifted its holdings in shares of International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 623 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Performance

IP traded down $0.47 during midday trading on Tuesday, hitting $48.92. 1,308,057 shares of the company were exchanged, compared to its average volume of 6,409,525. The company's 50 day simple moving average is $49.27 and its 200 day simple moving average is $49.68. The firm has a market capitalization of $25.83 billion, a price-to-earnings ratio of -489.20 and a beta of 1.04. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (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 firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company's revenue was up 42.9% compared to the same quarter last year. As a group, sell-side analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IP. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. Zacks Research downgraded International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. UBS Group assumed coverage on International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and cut their target price for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, International Paper has an average rating of "Hold" and an average target price of $55.46.

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.