Gotham Asset Management LLC Buys 73,881 Shares of International Paper (NYSE:IP)

Gotham Asset Management LLC grew its stake in International Paper (NYSE:IP - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 318,731 shares of the basic materials company's stock after acquiring an additional 73,881 shares during the quarter. Gotham Asset Management LLC owned 0.09% of International Paper worth $17,154,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of International Paper by 0.8% during 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 purchasing an additional 368,648 shares during the period. Vanguard Group Inc. raised its holdings in International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after buying an additional 340,383 shares during the period. Capital Research Global Investors lifted its stake in 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 in the last quarter. FMR LLC boosted its holdings in shares of International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after buying an additional 8,720,575 shares during the period. 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.

International Paper Price Performance

NYSE:IP opened at $44.31 on Friday. International Paper has a 12-month low of $38.10 and a 12-month high of $60.36. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 0.39 and a beta of 1.03. The stock's 50 day moving average price is $48.93 and its two-hundred day moving average price is $53.41. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter last year, the company posted $0.17 EPS. The firm's revenue was up 27.8% on a year-over-year basis. On average, analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IP shares. Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating for the company. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a report on Friday. StockNews.com cut International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Finally, Citigroup initiated 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 on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $54.21.

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.

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