International Paper (NYSE:IP) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC lessened its stake in shares of International Paper (NYSE:IP) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,839 shares of the basic materials company’s stock after selling 6,120 shares during the quarter. Redwood Investment Management LLC’s holdings in International Paper were worth $1,875,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SPC Financial Inc. increased its holdings in shares of International Paper by 1.4% in the 4th quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after acquiring an additional 200 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 204 shares during the period. Inspire Advisors LLC increased its stake in International Paper by 1.7% during the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of International Paper by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock worth $820,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IP shares. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target for the company. Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Wells Fargo & Company reiterated an “underweight” rating and set a $40.00 price target (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Truist Financial lowered their price objective on 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 reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus price target of $54.21.

International Paper Trading Down 1.5%

Shares of IP stock opened at $49.55 on Friday. International Paper has a 1 year low of $39.51 and a 1 year high of $60.36. The firm has a market capitalization of $26.16 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The stock has a fifty day moving average of $48.70 and a two-hundred day moving average of $53.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. As a group, research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

International Paper 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.