International Assets Investment Management LLC Lowers Stake in International Paper (NYSE:IP)

International Assets Investment Management LLC lessened its holdings in shares of International Paper (NYSE:IP - Free Report) by 97.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,589 shares of the basic materials company's stock after selling 409,544 shares during the period. International Assets Investment Management LLC's holdings in International Paper were worth $457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IP. Brooklyn Investment Group purchased a new position in shares of International Paper in the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in International Paper during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of International Paper during the third quarter valued at approximately $28,000. Versant Capital Management Inc increased its holdings in shares of International Paper by 313.3% in 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 in the last quarter. Finally, Eastern Bank purchased a new position in International Paper in the 3rd quarter worth about $40,000. Institutional investors own 81.95% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on IP. BNP Paribas downgraded 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. Truist Financial upped their price target on shares of International Paper from $61.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $51.99.

International Paper Trading Down 1.0 %

IP stock traded down $0.54 during trading on Friday, hitting $54.14. The company had a trading volume of 4,910,281 shares, compared to its average volume of 3,922,513. The company has a 50 day simple moving average of $56.22 and a 200-day simple moving average of $50.26. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The firm has a market capitalization of $18.81 billion, a P/E ratio of 46.27 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, research analysts forecast that International Paper will post 1.18 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.42%. International Paper's payout ratio is 158.12%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now directly owns 38,345 shares of the company's stock, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 2,400 shares of company stock worth $129,696. Insiders own 0.55% of the company's stock.

International Paper Company 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.