Wellington Management Group LLP Raises Stock Holdings in International Paper Company $IP

Key Points

• Wellington Management Group LLP raised its stock holdings in International Paper Company by 57.5% during the first quarter, owning a total of 360,232 shares valued at approximately $19.2 million.
• Institutional investors now own 81.95% of International Paper's stock, with several firms, including Northern Trust Corp and Brooklyn Investment Group, significantly increasing their stakes.
• International Paper announced a quarterly dividend of $0.4625 per share, yielding 3.7%, despite a negative net margin of 0.12% and an earnings miss in its latest quarter.

Wellington Management Group LLP increased its position in International Paper Company (NYSE:IP - Free Report) by 57.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 360,232 shares of the basic materials company's stock after purchasing an additional 131,578 shares during the period. Wellington Management Group LLP owned 0.07% of International Paper worth $19,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in International Paper by 42.3% in the first quarter. Northern Trust Corp now owns 5,041,692 shares of the basic materials company's stock worth $268,974,000 after purchasing an additional 1,499,481 shares during the period. Brooklyn Investment Group grew its stake in International Paper by 41.7% in the first quarter. Brooklyn Investment Group now owns 1,250 shares of the basic materials company's stock worth $67,000 after purchasing an additional 368 shares during the period. Affinity Investment Advisors LLC purchased a new stake in International Paper in the first quarter worth $226,000. Raymond James Financial Inc. grew its stake in shares of International Paper by 9.5% in the first quarter. Raymond James Financial Inc. now owns 433,353 shares of the basic materials company's stock worth $23,119,000 after acquiring an additional 37,458 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of International Paper by 40.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 169,171 shares of the basic materials company's stock worth $9,025,000 after acquiring an additional 48,301 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Up 1.2%

Shares of NYSE:IP opened at $49.46 on Tuesday. The company has a market cap of $26.11 billion, a P/E ratio of -494.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The stock's fifty day moving average price is $49.27 and its 200-day moving average price is $49.68.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results 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). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm's revenue was up 42.9% compared to the same quarter last year. Sell-side analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.7%. International Paper's dividend payout ratio is currently -1,850.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Finally, UBS Group assumed coverage on International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $55.46.

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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