OFI Invest Asset Management Trims Holdings in International Paper Company $IP

Key Points

• OFI Invest Asset Management has decreased its stake in International Paper Company by 8.2%, selling 6,932 shares, now holding a total of 77,289 shares valued at approximately $3.62 million.
• Several hedge funds have increased their positions in International Paper, with Farther Finance Advisors LLC growing its holdings by 65.1% in the first quarter.
• International Paper recently announced a quarterly dividend of $0.4625, representing a 4.0% yield, despite a notably high payout ratio of -1,850.00%.

OFI Invest Asset Management cut its stake in International Paper Company (NYSE:IP - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,289 shares of the basic materials company's stock after selling 6,932 shares during the quarter. OFI Invest Asset Management's holdings in International Paper were worth $3,619,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IP. Farther Finance Advisors LLC grew its position in shares of International Paper by 65.1% in the first quarter. Farther Finance Advisors LLC now owns 11,563 shares of the basic materials company's stock valued at $620,000 after purchasing an additional 4,560 shares in the last quarter. GAMMA Investing LLC grew its position in International Paper by 6.4% during the first quarter. GAMMA Investing LLC now owns 5,425 shares of the basic materials company's stock worth $289,000 after buying an additional 327 shares in the last quarter. SG Americas Securities LLC grew its position in International Paper by 58.4% during the first quarter. SG Americas Securities LLC now owns 36,146 shares of the basic materials company's stock worth $1,928,000 after buying an additional 13,332 shares in the last quarter. Handelsbanken Fonder AB grew its position in International Paper by 190.1% during the first quarter. Handelsbanken Fonder AB now owns 44,208 shares of the basic materials company's stock worth $2,358,000 after buying an additional 28,970 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its position in International Paper by 6.9% during the first quarter. Integrated Advisors Network LLC now owns 4,683 shares of the basic materials company's stock worth $250,000 after buying an additional 304 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company's stock, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.35% of the company's stock.

International Paper Trading Down 1.3%

Shares of IP stock opened at $45.83 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $47.17 and a two-hundred day moving average price of $48.08. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The firm has a market cap of $24.20 billion, a P/E ratio of -458.30, a price-to-earnings-growth ratio of 0.52 and a beta of 1.10.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly 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 the consensus estimate of $6.64 billion. During the same period last year, the firm earned $0.55 EPS. The company'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 EPS for the current fiscal year.

International Paper Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $44.00 and gave the stock an "underweight" rating in a research report on Tuesday. UBS Group reduced their target price on International Paper from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, October 6th. Jefferies Financial Group reduced their target price on International Paper from $61.00 to $59.00 and set a "buy" rating for the company in a research report on Friday, September 26th. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Finally, Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $55.58.

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.

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