Samlyn Capital LLC Decreases Holdings in International Paper Company $IP

Samlyn Capital LLC trimmed its holdings in shares of International Paper Company (NYSE:IP) by 9.8% in the first quarter, Holdings Channel reports. The institutional investor owned 2,191,600 shares of the basic materials company’s stock after selling 238,096 shares during the period. International Paper makes up 1.7% of Samlyn Capital LLC’s holdings, making the stock its 20th biggest holding. Samlyn Capital LLC’s holdings in International Paper were worth $116,922,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its holdings in International Paper by 2.0% during the 1st 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 last quarter. Spire Wealth Management lifted its holdings in International Paper by 2,343.9% during the 1st 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 last quarter. Sequoia Financial Advisors LLC lifted its holdings in International Paper by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock worth $480,000 after buying an additional 231 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in International Paper by 37.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company’s stock worth $1,194,000 after buying an additional 6,077 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in International Paper by 3.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,320 shares of the basic materials company’s stock worth $2,631,000 after buying an additional 1,680 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the topic of a number of research analyst reports. Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. 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 report on Tuesday, August 5th. Wells Fargo & Company reiterated an “underweight” rating and set a $43.00 target price (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, Truist Financial set a $59.00 target price on International Paper in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, International Paper currently has a consensus rating of “Hold” and an average price target of $55.65.

International Paper Stock Performance

Shares of IP stock opened at $48.63 on Friday. The stock has a market capitalization of $25.68 billion, a PE ratio of -486.30, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36. The stock’s 50-day moving average price is $49.72 and its 200 day moving average price is $49.33. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP) 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). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business’s revenue was up 42.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, equities research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper’s payout ratio is -1,850.00%.

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.