CoreCap Advisors LLC Has $31,000 Position in International Paper (NYSE:IP)

CoreCap Advisors LLC lowered its position in shares of International Paper (NYSE:IP - Free Report) by 94.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 581 shares of the basic materials company's stock after selling 10,602 shares during the quarter. CoreCap Advisors LLC's holdings in International Paper were worth $31,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. CastleKnight Management LP purchased a new stake in International Paper during the 4th quarter worth $1,415,000. Cary Street Partners Financial LLC acquired a new position in shares of International Paper in the fourth quarter worth about $409,000. Bastion Asset Management Inc. purchased a new position in International Paper in the fourth quarter valued at about $1,060,000. Beryl Capital Management LLC purchased a new stake in International Paper during the 4th quarter worth approximately $5,547,000. Finally, Alyeska Investment Group L.P. increased its holdings in International Paper by 134.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock worth $212,522,000 after purchasing an additional 2,266,762 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business'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 transaction, the chief accounting officer now owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IP. Bank of America started coverage on shares of International Paper in a research report on Thursday, February 13th. They set a "neutral" rating on the stock. JPMorgan Chase & Co. began coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective for the company. Truist Financial lowered their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, StockNews.com downgraded shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $54.21.

International Paper Stock Down 0.5%

Shares of IP traded down $0.27 during midday trading on Wednesday, reaching $49.74. 1,023,350 shares of the stock were exchanged, compared to its average volume of 7,918,255. The company has a market cap of $26.26 billion, a price-to-earnings ratio of 31.68, a P/E/G ratio of 0.39 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $41.00 and a 12-month high of $60.36. The firm has a 50 day simple moving average of $48.71 and a 200-day simple moving average of $53.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper's revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. Research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 dividend yield of 3.72%. The ex-dividend date is Friday, May 23rd. International Paper's payout ratio is 158.12%.

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.