International Paper Company (NYSE:IP) Shares Sold by Liberty Mutual Group Asset Management Inc.

Liberty Mutual Group Asset Management Inc. reduced its stake in shares of International Paper Company (NYSE:IP) by 19.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,969 shares of the basic materials company’s stock after selling 6,877 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in International Paper were worth $1,421,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IP. Wellington Management Group LLP increased its position in shares of International Paper by 29.5% in the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after buying an additional 8,273,552 shares in the last quarter. Norges Bank acquired a new position in shares of International Paper during the fourth quarter worth approximately $196,164,000. Bank of New York Mellon Corp increased its position in shares of International Paper by 62.9% in the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock worth $324,455,000 after buying an additional 2,466,074 shares in the last quarter. Iridian Asset Management LLC CT increased its position in shares of International Paper by 149.4% in the first quarter. Iridian Asset Management LLC CT now owns 3,745,820 shares of the basic materials company’s stock worth $190,213,000 after buying an additional 2,243,965 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of International Paper by 64.2% in the first quarter. Ameriprise Financial Inc. now owns 5,369,840 shares of the basic materials company’s stock worth $271,771,000 after buying an additional 2,098,824 shares in the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

International Paper Company (IP) traded up 1.83% during midday trading on Thursday, hitting $57.42. The stock had a trading volume of 2,515,698 shares. The stock has a market cap of $23.71 billion, a PE ratio of 30.69 and a beta of 1.48. International Paper Company has a 52-week low of $43.55 and a 52-week high of $58.95. The company’s 50 day moving average price is $56.48 and its 200-day moving average price is $53.61.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. International Paper had a return on equity of 30.44% and a net margin of 3.63%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. Analysts forecast that International Paper Company will post $3.60 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, August 11th. International Paper’s payout ratio is 98.40%.

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IP has been the subject of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $63.00 target price on shares of International Paper in a report on Wednesday, April 12th. Royal Bank Of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $50.00 to $56.00 in a report on Wednesday, April 19th. Citigroup Inc. reiterated a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Deutsche Bank AG increased their price objective on International Paper from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, April 25th. Finally, Barclays PLC increased their price objective on International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $56.90.

About International Paper

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

Institutional Ownership by Quarter for International Paper (NYSE:IP)

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