Wellington Management Group LLP Has $12.31 Million Stock Holdings in International Paper (NYSE:IP)

Wellington Management Group LLP reduced its holdings in International Paper (NYSE:IP - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,654 shares of the basic materials company's stock after selling 61,876 shares during the period. Wellington Management Group LLP's holdings in International Paper were worth $12,306,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IP. Tokio Marine Asset Management Co. Ltd. raised its holdings in International Paper by 4.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,169 shares of the basic materials company's stock valued at $1,193,000 after acquiring an additional 990 shares in the last quarter. Greenleaf Trust raised its stake in shares of International Paper by 6.7% in the fourth quarter. Greenleaf Trust now owns 9,020 shares of the basic materials company's stock valued at $485,000 after purchasing an additional 568 shares in the last quarter. Mather Group LLC. lifted its position in International Paper by 11.5% in the fourth quarter. Mather Group LLC. now owns 13,485 shares of the basic materials company's stock worth $726,000 after purchasing an additional 1,388 shares during the period. E. Ohman J or Asset Management AB boosted its stake in International Paper by 17.5% during the fourth quarter. E. Ohman J or Asset Management AB now owns 16,100 shares of the basic materials company's stock worth $867,000 after buying an additional 2,400 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in International Paper by 76.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 13,792 shares of the basic materials company's stock valued at $742,000 after buying an additional 5,980 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IP. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. Wells Fargo & Company reiterated an "underweight" rating and issued a $40.00 price target (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Royal Bank of Canada reissued an "outperform" rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. UBS Group initiated coverage on shares of International Paper in a report on Wednesday. They issued a "buy" rating and a $60.00 target price on the stock. Finally, Bank of America began coverage on shares of International Paper in a research note 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.54.

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction dated Monday, May 5th. The shares were 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 of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.55% of the company's stock.

International Paper Stock Down 0.4%

NYSE:IP traded down $0.19 during trading hours on Thursday, reaching $47.10. 4,394,295 shares of the stock were exchanged, compared to its average volume of 7,569,404. The stock has a market cap of $24.86 billion, a PE ratio of 30.00, a PEG ratio of 0.39 and a beta of 1.04. International Paper has a twelve month low of $41.50 and a twelve month high of $60.36. The firm has a 50 day moving average of $47.56 and a 200 day moving average of $52.66. 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 posted its quarterly earnings data 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 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 company's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.93%. The ex-dividend date is Friday, May 23rd. International Paper's dividend payout ratio is 158.12%.

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.