Worldquant Millennium Advisors LLC Decreases Stock Holdings in International Paper (NYSE:IP)

Worldquant Millennium Advisors LLC trimmed its stake in shares of International Paper (NYSE:IP - Free Report) by 91.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,118 shares of the basic materials company's stock after selling 208,864 shares during the period. Worldquant Millennium Advisors LLC's holdings in International Paper were worth $1,083,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $2,561,651,000 after acquiring an additional 368,648 shares in the last quarter. Vanguard Group Inc. increased its position in shares of International Paper by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after acquiring an additional 340,383 shares in the last quarter. Capital Research Global Investors increased its position in shares of International Paper by 68.8% during the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after acquiring an additional 12,191,361 shares in the last quarter. FMR LLC increased its position in shares of International Paper by 48.9% during the fourth 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of International Paper by 0.3% during the fourth 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 in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 value of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IP shares. Wall Street Zen downgraded shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Truist Financial decreased their price objective on shares of International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Citigroup began coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Finally, 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 note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper has a consensus rating of "Hold" and an average target price of $53.86.

International Paper Stock Down 0.7%

NYSE IP traded down $0.32 during trading hours on Wednesday, hitting $48.24. The company's stock had a trading volume of 1,002,993 shares, compared to its average volume of 7,733,733. International Paper has a 52 week low of $41.50 and a 52 week high of $60.36. The company has a market capitalization of $25.47 billion, a PE ratio of 30.73, 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. The company's 50-day simple moving average is $48.34 and its two-hundred day simple moving average is $53.03.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period 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. Research analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 yield of 3.83%. International Paper's payout ratio is currently 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.