International Paper (NYSE:IP) Shares Sold by Jump Financial LLC

Jump Financial LLC trimmed its stake in International Paper (NYSE:IP - Free Report) by 78.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,460 shares of the basic materials company's stock after selling 35,098 shares during the period. Jump Financial LLC's holdings in International Paper were worth $509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IP. Vanguard Group Inc. grew its position in International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after acquiring an additional 340,383 shares during the last quarter. FMR LLC lifted its holdings in shares of International Paper by 48.9% during 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 buying an additional 8,720,575 shares during the period. Geode Capital Management LLC raised its stake in shares of International Paper by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after buying an additional 24,816 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of International Paper by 2.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,685 shares of the basic materials company's stock worth $181,410,000 after acquiring an additional 74,759 shares during the period. Finally, Norges Bank bought a new stake in shares of International Paper in the fourth quarter worth about $109,201,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

NYSE:IP traded down $0.21 during trading hours on Friday, reaching $47.42. 2,156,745 shares of the company were exchanged, compared to its average volume of 8,534,818. The stock's 50-day moving average is $50.97 and its 200-day moving average is $53.57. International Paper has a twelve month low of $33.28 and a twelve month high of $60.36. The firm has a market cap of $25.03 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. 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 117.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IP shares. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price on the stock. Truist Financial cut their price target on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Tuesday. StockNews.com lowered International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper currently has an average rating of "Moderate Buy" and a consensus price target of $54.77.

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.