Redwood Investment Management LLC Decreases Position in International Paper (NYSE:IP)

Redwood Investment Management LLC decreased its position in International Paper (NYSE:IP - Free Report) by 14.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,839 shares of the basic materials company's stock after selling 6,120 shares during the period. Redwood Investment Management LLC's holdings in International Paper were worth $1,875,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in International Paper during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the fourth quarter valued at $26,000. Picton Mahoney Asset Management boosted its stake in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 215 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of International Paper by 90.2% during the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 295 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in International Paper during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Up 0.7%

IP stock traded up $0.34 on Monday, hitting $50.48. 3,951,311 shares of the company were exchanged, compared to its average volume of 8,045,130. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. International Paper has a twelve month low of $40.63 and a twelve month high of $60.36. The business's fifty day moving average is $48.72 and its two-hundred day moving average is $53.42.

International Paper (NYSE:IP - Get Free Report) last released 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). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the previous year, the company earned $0.17 earnings per share. The company's quarterly revenue was up 27.8% on a year-over-year basis. As a group, research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.66%. International Paper's dividend payout ratio is presently 158.12%.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on 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 $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IP shares. Royal Bank of Canada restated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective for the company. Truist Financial decreased their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 target price for the company. Finally, StockNews.com downgraded International Paper from a "hold" rating to a "sell" rating in a report 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $54.21.

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.