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

Redwood Investment Management LLC decreased its holdings in International Paper (NYSE:IP) by 14.9% during the 4th quarter, according to the company in its most recent disclosure 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors lifted its holdings in shares of International Paper by 68.8% during the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares during the last quarter. FMR LLC raised its holdings in International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after buying an additional 8,720,575 shares during the period. Alyeska Investment Group L.P. lifted its stake in International Paper by 134.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock valued at $212,522,000 after buying an additional 2,266,762 shares in the last quarter. Norges Bank purchased a new stake in International Paper during the fourth quarter valued at about $109,201,000. Finally, Slate Path Capital LP purchased a new position in shares of International Paper in the fourth quarter worth approximately $102,796,000. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $49.55 on Friday. The stock has a fifty day moving average price of $48.70 and a 200 day moving average price of $53.38. 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 has a 1 year low of $39.51 and a 1 year high of $60.36. The stock has a market cap of $26.16 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 0.39 and a beta of 1.03.

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

International Paper Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on IP shares. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target for the company. StockNews.com lowered International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Wells Fargo & Company reiterated an “underweight” rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Finally, Truist Financial decreased their price objective on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.21.

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.