GTS Securities LLC Decreases Stock Position in International Paper (NYSE:IP)

GTS Securities LLC reduced its position in International Paper (NYSE:IP - Free Report) by 96.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,645 shares of the basic materials company's stock after selling 180,265 shares during the period. GTS Securities LLC's holdings in International Paper were worth $358,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its position in shares of International Paper by 4.5% in the third quarter. Barclays PLC now owns 916,599 shares of the basic materials company's stock valued at $44,774,000 after purchasing an additional 39,404 shares during the last quarter. Fifth Third Bancorp raised its position in shares of International Paper by 16.1% during the 4th quarter. Fifth Third Bancorp now owns 19,376 shares of the basic materials company's stock worth $1,043,000 after purchasing an additional 2,686 shares during the last quarter. Blue Trust Inc. grew its holdings in International Paper by 18.6% during the 4th quarter. Blue Trust Inc. now owns 6,488 shares of the basic materials company's stock valued at $349,000 after buying an additional 1,017 shares during the last quarter. Pacer Advisors Inc. grew its holdings in International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock valued at $1,794,000 after buying an additional 7,424 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in International Paper by 7.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 9,036 shares of the basic materials company's stock worth $486,000 after buying an additional 616 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IP has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price target (down from $45.00) on shares of International Paper in a report on Friday, May 9th. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday. Wall Street Zen cut shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Finally, Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.86.

International Paper Trading Down 0.4%

Shares of IP traded down $0.21 during mid-day trading on Friday, reaching $47.74. The company had a trading volume of 6,991,131 shares, compared to its average volume of 7,654,896. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The firm has a fifty day simple moving average of $48.00 and a 200-day simple moving average of $52.83. The stock has a market cap of $25.20 billion, a price-to-earnings ratio of 30.41, 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.

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 for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business posted $0.17 EPS. International Paper's revenue was up 27.8% compared to the same quarter last year. On average, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's payout ratio is currently 158.12%.

Insider Buying and Selling

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on 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 directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company's stock.

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.