USS Investment Management Ltd Sells 59,892 Shares of International Paper (NYSE:IP)

USS Investment Management Ltd decreased its stake in shares of International Paper (NYSE:IP - Free Report) by 93.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,445 shares of the basic materials company's stock after selling 59,892 shares during the period. USS Investment Management Ltd's holdings in International Paper were worth $239,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Sierra Ocean LLC bought a new stake in shares of International Paper during the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in International Paper in the fourth quarter valued at about $26,000. Picton Mahoney Asset Management increased its holdings in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after acquiring an additional 295 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in shares of International Paper in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Price Performance

International Paper stock traded down $0.34 during mid-day trading on Friday, reaching $47.61. 850,429 shares of the company were exchanged, compared to its average volume of 7,645,844. The company has a fifty day simple moving average of $48.17 and a 200-day simple moving average of $52.93. The firm has a market cap of $25.13 billion, a PE ratio of 30.33, a PEG ratio of 0.39 and a beta of 1.03. International Paper has a 12 month low of $41.50 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

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 analysts' consensus estimates of $0.35 by ($0.12). The firm had revenue of $5.90 billion during 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%. The business's quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 earnings per share. As a group, equities research analysts expect that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.89%. International Paper's dividend payout ratio is currently 158.12%.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

IP has been the subject of several recent research reports. Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a "neutral" rating for the company. Citigroup initiated coverage on International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target for the company. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday. JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 target price (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $53.86.

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.