Tidal Investments LLC Sells 6,942 Shares of International Paper (NYSE:IP)

Tidal Investments LLC lessened its holdings in International Paper (NYSE:IP - Free Report) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,543 shares of the basic materials company's stock after selling 6,942 shares during the quarter. Tidal Investments LLC's holdings in International Paper were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in International Paper by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock valued at $2,561,651,000 after purchasing an additional 368,648 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock valued at $2,217,119,000 after buying an additional 340,383 shares during the period. Capital Research Global Investors raised its stake in shares of International Paper by 68.8% in the fourth 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 buying an additional 12,191,361 shares during the period. FMR LLC grew its stake in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after acquiring an additional 8,720,575 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of International Paper by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after acquiring an additional 24,816 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of International Paper stock traded down $0.37 during trading on Friday, hitting $47.58. The stock had a trading volume of 672,289 shares, compared to its average volume of 7,644,635. 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 has a 12 month low of $41.50 and a 12 month high of $60.36. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 0.39 and a beta of 1.03. The business's 50-day moving average is $48.17 and its 200 day moving average is $52.93.

International Paper (NYSE:IP - Get Free Report) last posted 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). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. International Paper's quarterly revenue was up 27.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

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 given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's dividend payout ratio (DPR) is 158.12%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. started coverage on shares of International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective on the stock. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They set a "neutral" rating on the stock. Wells Fargo & Company restated an "underweight" rating and set a $40.00 target price (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper currently has a consensus rating of "Hold" and an average target price of $53.86.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm'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 sale, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

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.