Neo Ivy Capital Management Lowers Stock Position in International Paper Company $IP

Neo Ivy Capital Management trimmed its holdings in International Paper Company (NYSE:IP) by 70.8% during the second quarter, HoldingsChannel.com reports. The fund owned 7,176 shares of the basic materials company’s stock after selling 17,408 shares during the period. Neo Ivy Capital Management’s holdings in International Paper were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of IP. DNB Asset Management AS increased its stake in International Paper by 2.6% in the second quarter. DNB Asset Management AS now owns 101,372 shares of the basic materials company’s stock valued at $4,747,000 after purchasing an additional 2,553 shares during the period. Swiss National Bank boosted its stake in shares of International Paper by 8.0% during the second quarter. Swiss National Bank now owns 1,518,146 shares of the basic materials company’s stock worth $71,095,000 after buying an additional 112,100 shares during the period. ABN AMRO Bank N.V. purchased a new position in shares of International Paper during the second quarter worth about $9,423,000. Handelsbanken Fonder AB increased its position in International Paper by 196.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 131,000 shares of the basic materials company’s stock valued at $6,135,000 after acquiring an additional 86,792 shares during the period. Finally, Auxano Advisors LLC increased its position in International Paper by 6.1% in the 2nd quarter. Auxano Advisors LLC now owns 9,374 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 540 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of several analyst reports. BNP Paribas Exane lowered their target price on International Paper from $42.10 to $40.40 and set an “underperform” rating on the stock in a research note on Wednesday, October 8th. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Royal Bank Of Canada lowered their price objective on shares of International Paper from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Truist Financial cut their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, UBS Group reduced their target price on shares of International Paper from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.92.

International Paper Trading Up 5.8%

Shares of IP stock opened at $37.65 on Friday. The business’s fifty day moving average price is $43.48 and its 200 day moving average price is $46.80. The firm has a market capitalization of $19.88 billion, a PE ratio of -376.50, a P/E/G ratio of 0.54 and a beta of 1.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 1-year low of $35.56 and a 1-year high of $60.36.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the business posted $0.33 EPS. International Paper’s revenue was up 56.4% compared to the same quarter last year. As a group, sell-side analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.9%. International Paper’s payout ratio is currently -70.88%.

Insiders Place Their Bets

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

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.