International Paper Company $IP Shares Sold by Samlyn Capital LLC

Key Points

• Samlyn Capital LLC reduced its stake in International Paper by 9.8%, selling 238,096 shares to own 2,191,600 shares, which now accounts for 1.7% of its portfolio.
• Vanguard Group Inc. significantly increased its stake in International Paper by 52.0%, acquiring over 21 million additional shares, and now holds approximately 62.6 million shares valued at $3.34 billion.
• International Paper declared a quarterly dividend of $0.4625 per share, reflecting a 3.8% yield, with the ex-dividend date set for August 15th.

Samlyn Capital LLC lowered its stake in International Paper Company (NYSE:IP - Free Report) by 9.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,191,600 shares of the basic materials company's stock after selling 238,096 shares during the period. International Paper makes up approximately 1.7% of Samlyn Capital LLC's portfolio, making the stock its 20th biggest holding. Samlyn Capital LLC owned about 0.42% of International Paper worth $116,922,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IP. Zions Bancorporation National Association UT acquired a new stake in shares of International Paper in the 1st quarter valued at approximately $34,000. Bernard Wealth Management Corp. acquired a new position in International Paper during the fourth quarter worth $37,000. Citizens National Bank Trust Department acquired a new position in International Paper during the first quarter worth $37,000. Grove Bank & Trust raised its holdings in International Paper by 472.0% during the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after purchasing an additional 623 shares during the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in International Paper during the first quarter worth $42,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of NYSE:IP traded down $0.81 during trading on Tuesday, hitting $46.60. 431,400 shares of the company traded hands, compared to its average volume of 6,257,126. International Paper Company has a one year low of $43.27 and a one year high of $60.36. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of -466.00, a PEG ratio of 0.55 and a beta of 1.05. The business's fifty day moving average is $49.73 and its 200-day moving average is $49.17. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period last year, the company earned $0.55 earnings per share. The business's quarterly revenue was up 42.9% compared to the same quarter last year. As a group, equities analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio is -1,850.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IP shares. Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a 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 price objective for the company. Wall Street Zen raised 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 International Paper in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $43.00 target price (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $55.65.

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.