Allianz Asset Management GmbH Lowers Holdings in International Paper Company $IP

Allianz Asset Management GmbH lessened its stake in International Paper Company (NYSE:IP) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,538 shares of the basic materials company’s stock after selling 29,470 shares during the period. Allianz Asset Management GmbH owned about 0.07% of International Paper worth $16,172,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Shields Capital Management LLC grew its position in International Paper by 7.0% during the second quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock valued at $162,000 after buying an additional 226 shares during the period. Atalanta Sosnoff Capital LLC grew its position in shares of International Paper by 3.8% during the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock valued at $317,000 after acquiring an additional 245 shares during the period. Blue Trust Inc. grew its position in shares of International Paper by 10.1% during the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 259 shares during the period. Evergreen Capital Management LLC raised its holdings in International Paper by 1.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock worth $736,000 after purchasing an additional 263 shares during the period. Finally, Ballentine Partners LLC raised its holdings in International Paper by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company’s stock worth $253,000 after purchasing an additional 271 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of International Paper stock opened at $46.60 on Friday. The business’s 50 day moving average price is $40.70 and its 200 day moving average price is $43.77. The company has a market cap of $24.61 billion, a price-to-earnings ratio of -6.94, a PEG ratio of 0.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28. International Paper Company has a one year low of $35.56 and a one year high of $57.55.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.36). The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The business’s quarterly revenue was up 53.1% on a year-over-year basis. During the same period last year, the company earned ($0.02) EPS. On average, research analysts predict that International Paper Company will post 2.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on IP shares. Jefferies Financial Group raised their price objective on International Paper from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wall Street Zen cut shares of International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Citigroup upped their price objective on shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of International Paper in a research note on Monday, December 29th. Finally, UBS Group lowered shares of International Paper from a “buy” rating to a “neutral” rating and decreased their price target for the company from $51.00 to $44.00 in a research note on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, International Paper has an average rating of “Hold” and a consensus target price of $48.89.

Insider Buying and Selling at International Paper

In other International Paper news, CEO Andrew K. Silvernail acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average cost of $39.98 per share, with a total value of $1,999,000.00. Following the transaction, the chief executive officer owned 50,000 shares of the company’s stock, valued at $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The SEC filing for this sale provides additional information. 0.35% of the stock is owned by company insiders.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.