Moore Capital Management LP Sells 86,110 Shares of International Paper (NYSE:IP)

Moore Capital Management LP cut its position in shares of International Paper (NYSE:IP - Free Report) by 37.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,724 shares of the basic materials company's stock after selling 86,110 shares during the period. Moore Capital Management LP's holdings in International Paper were worth $7,789,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new stake in shares of International Paper during the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper during the 4th quarter worth about $26,000. Picton Mahoney Asset Management boosted its holdings in International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after buying an additional 295 shares during the last quarter. Finally, City State Bank increased its position in shares of International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company's stock worth $36,000 after purchasing an additional 350 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE:IP traded down $0.77 during trading hours on Thursday, hitting $49.55. 6,673,382 shares of the company's stock traded hands, compared to its average volume of 8,120,996. The company has a market cap of $26.16 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. International Paper has a 52 week low of $39.51 and a 52 week high of $60.36. The company's fifty day simple moving average is $48.71 and its two-hundred day simple moving average is $53.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm's revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, equities analysts anticipate that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 dividend yield of 3.73%. The ex-dividend date is Friday, May 23rd. International Paper's dividend payout ratio is currently 158.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IP. Royal Bank of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Truist Financial lowered their target price on International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They issued a "neutral" rating on the stock. Wells Fargo & Company reissued an "underweight" rating and issued a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Finally, StockNews.com lowered International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Paper presently has an average rating of "Hold" and an average price target of $54.21.

Insider Activity

In other 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 sale, the chief accounting officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

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.