Aquatic Capital Management LLC Lowers Stock Holdings in International Paper (NYSE:IP)

Aquatic Capital Management LLC lessened its position in International Paper (NYSE:IP) by 65.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,327 shares of the basic materials company’s stock after selling 231,773 shares during the quarter. Aquatic Capital Management LLC’s holdings in International Paper were worth $6,584,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in shares of International Paper in the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in International Paper during the 4th quarter worth $26,000. Picton Mahoney Asset Management grew its stake in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Versant Capital Management Inc increased its holdings in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the period. Finally, Venturi Wealth Management LLC raised its position in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on IP shares. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. Truist Financial lowered their target price on shares of International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.77.

International Paper Price Performance

Shares of NYSE:IP opened at $47.42 on Friday. International Paper has a 12 month low of $33.28 and a 12 month high of $60.36. The firm has a market capitalization of $25.03 billion, a P/E ratio of 30.20, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company’s fifty day moving average price is $50.97 and its 200 day moving average price is $53.57.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

About International Paper

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.