International Paper Company $IP Stock Position Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its International Paper stake by 194.8% in the third quarter, bringing its holdings to 123,931 shares valued at approximately $4.1 million. Institutional investors collectively own 81.95% of the company.
• International Paper reported quarterly EPS of $0.04, beating estimates of a $0.04 loss, but revenue fell 11.3% year over year to $6 billion. The stock opened at $33.73, below its 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $0.4625, equivalent to an annualized $1.85 payout and a 5.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $46.90.

Assenagon Asset Management S.A. lifted its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 194.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,931 shares of the basic materials company's stock after buying an additional 81,888 shares during the period. Assenagon Asset Management S.A.'s holdings in International Paper were worth $4,111,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in IP. Stephens Inc. AR boosted its position in shares of International Paper by 1.3% in the 1st quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company's stock worth $853,000 after buying an additional 298 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in International Paper by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,274 shares of the basic materials company's stock valued at $523,000 after acquiring an additional 302 shares in the last quarter. Ranch Capital Advisors Inc. increased its holdings in International Paper by 0.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 45,785 shares of the basic materials company's stock valued at $1,635,000 after acquiring an additional 364 shares in the last quarter. Krilogy Financial LLC increased its holdings in International Paper by 5.8% during the 1st quarter. Krilogy Financial LLC now owns 8,017 shares of the basic materials company's stock valued at $290,000 after acquiring an additional 437 shares in the last quarter. Finally, Arvest Bank Trust Division raised its position in International Paper by 1.2% during the first quarter. Arvest Bank Trust Division now owns 41,480 shares of the basic materials company's stock worth $1,481,000 after acquiring an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Buying and Selling

In other news, CAO Holly G. Goughnour sold 3,500 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Hamic sold 24,500 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

International Paper Price Performance

NYSE:IP opened at $33.73 on Wednesday. The business's 50-day moving average is $35.92 and its two-hundred day moving average is $35.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%. The company had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The firm's quarterly revenue was down 11.3% on a year-over-year basis. Equities research analysts anticipate that International Paper Company will post 1.27 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a yield of 5.5%. International Paper's dividend payout ratio is currently -28.37%.

Wall Street Analyst Weigh In

IP has been the subject of several recent research reports. Bank of America raised International Paper from a "neutral" rating to a "buy" rating and set a $46.00 price target for the company in a research report on Friday, September 11th. Citigroup dropped their price objective on International Paper from $48.00 to $47.00 and set a "buy" rating for the company in a research report on Friday, October 2nd. UBS Group lowered their price target on shares of International Paper from $47.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a research report on Saturday, October 3rd. Finally, Seaport Research Partners reissued a "buy" rating and issued a $46.00 price objective on shares of International Paper in a research report on Wednesday, August 12th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Paper currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.90.

About International Paper

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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