International Paper Company $IP Shares Sold by Fisher Funds Management LTD

Fisher Funds Management LTD reduced its position in International Paper Company (NYSE:IP) by 39.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 59,213 shares of the basic materials company’s stock after selling 39,378 shares during the quarter. Fisher Funds Management LTD’s holdings in International Paper were worth $2,773,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position 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 acquiring an additional 282 shares in the last quarter. Consolidated Planning Corp purchased a new position in shares of International Paper in the second quarter worth approximately $317,000. Whalen Wealth Management Inc. purchased a new position in shares of International Paper in the second quarter worth approximately $604,000. MBB Public Markets I LLC purchased a new position in shares of International Paper in the first quarter worth approximately $313,000. Finally, Alliancebernstein L.P. grew its position in International Paper by 47.0% during the first 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 in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of International Paper stock opened at $38.66 on Friday. The firm has a fifty day simple moving average of $46.78 and a 200-day simple moving average of $47.74. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 1-year low of $37.70 and a 1-year high of $60.36. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of -386.60, a PEG ratio of 0.54 and a beta of 1.10.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. International Paper’s quarterly revenue was up 56.4% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.8%. International Paper’s payout ratio is -70.88%.

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 on Tuesday, September 16th. The shares were 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 directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday. UBS Group lowered their price objective on shares of International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of International Paper in a research report on Tuesday, October 14th. Royal Bank Of Canada lowered their price objective on shares of International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of International Paper from $54.00 to $48.00 and set a “neutral” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.95.

International Paper 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.