AQR Capital Management LLC Cuts Stock Holdings in International Paper (NYSE:IP)

AQR Capital Management LLC trimmed its position in International Paper (NYSE:IP - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 374,483 shares of the basic materials company's stock after selling 20,158 shares during the quarter. AQR Capital Management LLC owned 0.11% of International Paper worth $20,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in International Paper in the 4th quarter worth $26,000. Centricity Wealth Management LLC bought a new position in International Paper in the fourth quarter worth about $26,000. Picton Mahoney Asset Management lifted its holdings in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after buying an additional 215 shares during the period. Versant Capital Management Inc boosted its position in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 448 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after acquiring an additional 295 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research reports. 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 report on Tuesday, April 22nd. StockNews.com lowered shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday. Wells Fargo & Company reissued an "underweight" rating and set a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research note on Friday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Finally, Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They issued a "neutral" rating on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Paper has a consensus rating of "Hold" and a consensus price target of $54.21.

Insider Buying and Selling

In other news, CAO Holly G. Goughnour sold 7,500 shares of International Paper 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 transaction, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

International Paper Stock Performance

NYSE:IP traded down $0.61 during mid-day trading on Friday, reaching $44.31. The company's stock had a trading volume of 4,475,656 shares, compared to its average volume of 8,162,130. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The stock has a market cap of $23.39 billion, a P/E ratio of 28.22, a PEG ratio of 0.39 and a beta of 1.03. The firm's fifty day moving average price is $49.06 and its two-hundred day moving average price is $53.40. International Paper has a 12-month low of $38.10 and a 12-month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its 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 company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. On average, equities analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

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.