Woodline Partners LP Has $2.08 Million Position in International Paper (NYSE:IP)

Woodline Partners LP trimmed its stake in shares of International Paper (NYSE:IP - Free Report) by 78.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,570 shares of the basic materials company's stock after selling 143,746 shares during the quarter. Woodline Partners LP's holdings in International Paper were worth $2,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after buying an additional 7,424 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock worth $46,686,000 after buying an additional 15,904 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of International Paper during the fourth quarter worth $788,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of International Paper by 26.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,106 shares of the basic materials company's stock worth $2,232,000 after buying an additional 8,669 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of International Paper by 18.0% during the fourth quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company's stock worth $946,000 after buying an additional 2,685 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 31,525 shares of the company's stock, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company's stock.

International Paper Price Performance

NYSE IP traded down $0.27 during trading on Friday, hitting $47.68. 760,125 shares of the company's stock were exchanged, compared to its average volume of 7,645,083. 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 company has a market cap of $25.17 billion, a PE ratio of 30.37, a P/E/G ratio of 0.39 and a beta of 1.03. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The stock's 50 day moving average price is $48.17 and its two-hundred day moving average price is $52.93.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS 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 analyst estimates of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm's revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. Research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IP shares. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $40.00 price target (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target for the company. Bank of America began coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $53.86.

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.