Pinion Investment Advisors LLC Reduces Stock Holdings in International Paper Company $IP

Key Points

• Pinion Investment Advisors LLC has reduced its stake in International Paper Company by 48.0%, owning 21,215 shares worth $993,000 after selling 19,545 shares in the second quarter.
• Several institutional investors have adjusted their positions, with Alliancebernstein L.P. increasing its stake by 47.0% and other firms initiating new positions or raising their holdings.
• International Paper's recent quarterly earnings report revealed an EPS of $0.20, missing analyst estimates, with a revenue of $6.77 billion, which is a 42.9% increase from the previous year.

Pinion Investment Advisors LLC trimmed its position in International Paper Company (NYSE:IP - Free Report) by 48.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,215 shares of the basic materials company's stock after selling 19,545 shares during the period. Pinion Investment Advisors LLC's holdings in International Paper were worth $993,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised 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 during the period. Spire Wealth Management raised 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 during the period. Consolidated Planning Corp bought a new position in shares of International Paper in the second quarter worth about $317,000. MBB Public Markets I LLC bought a new position in shares of International Paper in the first quarter worth about $313,000. Finally, Alliancebernstein L.P. raised its stake in International Paper by 47.0% during the 1st quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company's stock valued at $29,526,000 after purchasing an additional 176,991 shares during the period. Institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IP. Weiss Ratings reissued a "hold (c-)" rating on shares of International Paper in a research note on Saturday, September 27th. Bank of America raised International Paper from a "neutral" rating to a "buy" rating and lifted their target price for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. UBS Group decreased their target price on International Paper from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday. Zacks Research downgraded International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and cut their price target for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $55.58.

International Paper Price Performance

Shares of International Paper stock opened at $46.43 on Friday. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of -464.30, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The stock has a 50 day moving average price of $47.19 and a 200-day moving average price of $48.21. International Paper Company has a one year low of $43.27 and a one year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted 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 negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. International Paper's revenue was up 42.9% compared to the same quarter last year. Equities analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced 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 of this dividend was Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. International Paper's payout ratio is -1,850.00%.

Insiders Place Their Bets

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president directly owned 27,673 shares of the company's stock, valued at $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by company insiders.

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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