International Paper (NYSE:IP) Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its position in International Paper (NYSE:IP - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,994 shares of the basic materials company's stock after selling 4,634 shares during the period. Empowered Funds LLC's holdings in International Paper were worth $2,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of IP. Exchange Traded Concepts LLC boosted its stake in shares of International Paper by 677.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,555 shares of the basic materials company's stock worth $76,000 after buying an additional 1,355 shares during the last quarter. Creative Planning raised its holdings in International Paper by 6.6% in the 3rd quarter. Creative Planning now owns 72,925 shares of the basic materials company's stock worth $3,562,000 after purchasing an additional 4,500 shares during the period. Vontobel Holding Ltd. raised its holdings in International Paper by 90.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 10,969 shares of the basic materials company's stock worth $536,000 after purchasing an additional 5,207 shares during the period. Bleakley Financial Group LLC raised its holdings in International Paper by 15.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,402 shares of the basic materials company's stock worth $264,000 after purchasing an additional 731 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in International Paper by 20.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,355 shares of the basic materials company's stock worth $2,069,000 after purchasing an additional 7,201 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IP. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.88.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the completion of the transaction, the director now owns 37,145 shares of the company's stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is owned by company insiders.

International Paper Trading Up 1.7 %

IP traded up $0.96 on Tuesday, hitting $57.08. The company had a trading volume of 1,722,899 shares, compared to its average volume of 12,069,877. The company has a market cap of $19.83 billion, a PE ratio of 36.36 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The business's fifty day simple moving average is $55.46 and its 200 day simple moving average is $52.41.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Equities research analysts expect that International Paper will post 2.89 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a $0.4625 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.24%. International Paper's payout ratio is 117.84%.

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.