International Paper Company $IP Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. reduced its stake in International Paper Company (IP) by 41.3%, now holding 97,163 shares worth approximately $5.18 million following the sale of 68,264 shares.
• International Paper's latest earnings report showed a missed EPS estimate of $0.20, compared to the consensus estimate of $0.38, although quarterly revenue increased by 42.9% year-over-year to $6.77 billion.
• Wall Street analysts have provided mixed ratings for International Paper, with an average rating of "Hold" and a consensus price target of $55.65.

Advisors Asset Management Inc. reduced its holdings in International Paper Company (NYSE:IP - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,163 shares of the basic materials company's stock after selling 68,264 shares during the period. Advisors Asset Management Inc.'s holdings in International Paper were worth $5,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IP. Zions Bancorporation National Association UT purchased a new position in shares of International Paper in the first quarter worth about $34,000. Bernard Wealth Management Corp. purchased a new position in International Paper during the fourth quarter worth about $37,000. Citizens National Bank Trust Department purchased a new position in International Paper during the first quarter worth about $37,000. Grove Bank & Trust raised its stake 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 period. Finally, Toth Financial Advisory Corp purchased a new position in International Paper during the first quarter worth about $42,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Down 1.1%

Shares of IP stock traded down $0.53 during trading on Tuesday, reaching $46.88. The company's stock had a trading volume of 3,242,921 shares, compared to its average volume of 6,274,662. 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 has a market capitalization of $24.75 billion, a price-to-earnings ratio of -468.80, a P/E/G ratio of 0.55 and a beta of 1.05. The stock's 50-day moving average price is $49.73 and its 200 day moving average price is $49.17. 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 announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The business 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%. The company's revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. On average, research analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. International Paper's dividend payout ratio is presently -1,850.00%.

Analysts Set New Price Targets

A number of brokerages have weighed in on IP. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Bank of America upgraded shares of International Paper from a "neutral" rating to a "buy" rating and lifted their price target for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $55.65.

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.