International Assets Investment Management LLC Trims Stock Position in International Paper Company (NYSE:IP)

International Assets Investment Management LLC cut its holdings in shares of International Paper Company (NYSE:IPFree Report) by 54.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,897 shares of the basic materials company’s stock after selling 4,692 shares during the period. International Assets Investment Management LLC’s holdings in International Paper were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after purchasing an additional 12,191,361 shares in the last quarter. FMR LLC lifted its stake in shares of International Paper by 48.9% in the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of International Paper by 134.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock valued at $212,522,000 after purchasing an additional 2,266,762 shares during the period. Norges Bank purchased a new stake in International Paper during the fourth quarter worth $109,201,000. Finally, Slate Path Capital LP acquired a new stake in International Paper during the fourth quarter valued at $102,796,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

International Paper Price Performance

NYSE:IP opened at $47.45 on Friday. The stock has a 50 day moving average of $47.05 and a two-hundred day moving average of $51.31. International Paper Company has a 12 month low of $42.26 and a 12 month high of $60.36. The firm has a market cap of $25.05 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

International Paper (NYSE:IPGet Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s revenue was up 27.8% on a year-over-year basis. On average, analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.90%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analyst Weigh In

IP has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target for the company. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday, May 28th. UBS Group began coverage on International Paper in a report on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen upgraded International Paper from a “sell” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.54.

View Our Latest Analysis on International Paper

International Paper Profile

(Free Report)

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.

See Also

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

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