Deutsche Bank AG Lowers Stock Position in International Paper (NYSE:IP)

Deutsche Bank AG trimmed its holdings in shares of International Paper (NYSE:IP - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 964,482 shares of the basic materials company's stock after selling 647,177 shares during the period. Deutsche Bank AG owned about 0.28% of International Paper worth $51,908,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IP. Sierra Ocean LLC acquired a new stake in shares of International Paper in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of International Paper in the fourth quarter valued at $26,000. Picton Mahoney Asset Management boosted its position in shares of International Paper by 67.0% in the 4th 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 in the last quarter. Venturi Wealth Management LLC increased its holdings in International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 295 shares in the last quarter. Finally, City State Bank lifted its holdings in shares of International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 350 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares in the company, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price on the stock. Truist Financial reduced their price objective on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Finally, Bank of America began coverage on International Paper in a report on Thursday, February 13th. They set 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, International Paper presently has an average rating of "Hold" and an average target price of $54.21.

International Paper Trading Up 8.1%

Shares of IP opened at $47.84 on Tuesday. International Paper has a twelve month low of $38.54 and a twelve month high of $60.36. The firm has a market capitalization of $25.25 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. 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's fifty day simple moving average is $48.83 and its 200 day simple moving average is $53.44.

International Paper (NYSE:IP - Get Free Report) last released 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). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The business's revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

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.

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