Worldquant Millennium Advisors LLC Reduces Stake in International Paper (NYSE:IP)

Worldquant Millennium Advisors LLC lowered its position in International Paper (NYSE:IP) by 91.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,118 shares of the basic materials company’s stock after selling 208,864 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in International Paper were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vident Advisory LLC grew its position in International Paper by 3.0% during the fourth quarter. Vident Advisory LLC now owns 31,999 shares of the basic materials company’s stock valued at $1,722,000 after buying an additional 922 shares during the period. Visionary Wealth Advisors raised its position in International Paper by 3.0% in the fourth quarter. Visionary Wealth Advisors now owns 37,015 shares of the basic materials company’s stock worth $1,992,000 after acquiring an additional 1,075 shares during the period. Wimmer Associates 1 LLC boosted its stake in shares of International Paper by 3.8% during the 4th quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company’s stock worth $401,000 after acquiring an additional 270 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of International Paper by 36.6% during the 4th quarter. Two Sigma Advisers LP now owns 675,400 shares of the basic materials company’s stock valued at $36,350,000 after acquiring an additional 181,000 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of International Paper by 29.7% during the 4th quarter. Two Sigma Investments LP now owns 665,038 shares of the basic materials company’s stock valued at $35,792,000 after acquiring an additional 152,374 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by corporate insiders.

International Paper Stock Performance

International Paper stock opened at $48.66 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm’s 50 day moving average price is $48.60 and its 200-day moving average price is $53.27. International Paper has a 1 year low of $41.50 and a 1 year high of $60.36. The stock has a market cap of $25.69 billion, a P/E ratio of 30.99, 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 analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s revenue was up 27.8% on a year-over-year basis. On average, equities analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s dividend payout ratio is currently 158.12%.

Wall Street Analyst Weigh In

IP has been the topic of several analyst reports. Truist Financial lowered their target price on International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Bank of America initiated coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target on the stock. Finally, 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. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, International Paper has an average rating of “Hold” and an average target price of $54.21.

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.