International Paper (NYSE:IP) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP cut its stake in International Paper (NYSE:IP - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,012 shares of the basic materials company's stock after selling 12,333 shares during the period. Brevan Howard Capital Management LP's holdings in International Paper were worth $539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IP. Capital Research Global Investors raised its holdings in shares of International Paper by 68.8% in the 4th 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 in the last quarter. FMR LLC increased its holdings in International Paper by 48.9% during the fourth 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. Alyeska Investment Group L.P. raised its stake in International Paper by 134.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock worth $212,522,000 after buying an additional 2,266,762 shares in the last quarter. Norges Bank bought a new stake in International Paper during the 4th quarter valued at $109,201,000. Finally, Slate Path Capital LP purchased a new position in shares of International Paper in the 4th quarter valued at $102,796,000. Institutional investors own 81.95% of the company's stock.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction dated Monday, May 5th. The shares were 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 in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

International Paper Price Performance

NYSE:IP traded up $3.57 during trading hours on Monday, reaching $47.84. 6,755,633 shares of the company were exchanged, compared to its average volume of 8,146,382. 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 firm has a market cap of $25.25 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. International Paper has a twelve month low of $38.54 and a twelve month high of $60.36. The stock's 50-day moving average is $48.83 and its 200-day moving average is $53.44.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. On average, sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IP. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. StockNews.com lowered International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $40.00 price objective (down from $45.00) on shares of International Paper in a research report on Friday. Finally, JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.