Janney Montgomery Scott LLC Sells 15,765 Shares of International Paper Company $IP

Key Points

• Janney Montgomery Scott LLC reduced its holdings in International Paper Company by 24.5%, selling 15,765 shares and now owning 48,691 shares valued at approximately $2.28 million.
• International Paper's recent quarterly earnings report showed EPS of $0.20, missing analyst estimates, but its revenue was up 42.9% year-over-year at $6.77 billion.
• The company announced a quarterly dividend of $0.4625 per share, resulting in an annualized dividend yield of 4.0%.

Janney Montgomery Scott LLC lowered its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 24.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,691 shares of the basic materials company's stock after selling 15,765 shares during the period. Janney Montgomery Scott LLC's holdings in International Paper were worth $2,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its stake in shares of International Paper by 2.0% in the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company's stock worth $751,000 after buying an additional 282 shares in the last quarter. Spire Wealth Management lifted its stake in shares of International Paper by 2,343.9% in the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock worth $86,000 after buying an additional 1,547 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of International Paper in the first quarter worth approximately $313,000. Alliancebernstein L.P. lifted its stake in shares of International Paper by 47.0% in the first quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company's stock worth $29,526,000 after buying an additional 176,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of International Paper by 78.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company's stock worth $259,310,000 after buying an additional 2,143,027 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the transaction, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by company insiders.

International Paper Stock Performance

Shares of NYSE IP opened at $46.43 on Friday. The firm has a fifty day moving average price of $47.19 and a 200-day moving average price of $48.21. 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 stock has a market cap of $24.51 billion, a PE ratio of -464.30, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10. 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 (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 firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same period last year, the company earned $0.55 earnings per share. The business's revenue for the quarter was up 42.9% on a year-over-year basis. Equities analysts anticipate 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 was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.0%. International Paper's dividend payout ratio (DPR) is -1,850.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IP shares. Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Seaport Res Ptn cut shares of International Paper from a "strong-buy" rating to a "hold" rating in a report on Monday. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Bank of America raised shares of International Paper from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $55.58.

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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