21,431 Shares in International Paper (NYSE:IP) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in International Paper (NYSE:IP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,431 shares of the basic materials company's stock, valued at approximately $1,153,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sierra Ocean LLC purchased a new position in shares of International Paper in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in shares of International Paper in the fourth quarter worth approximately $26,000. Picton Mahoney Asset Management increased its stake in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after buying an additional 215 shares during the period. Venturi Wealth Management LLC raised its holdings in International Paper by 90.2% during 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, Bernard Wealth Management Corp. purchased a new stake in shares of International Paper during the fourth quarter worth about $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The shares were 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 of the company's stock, valued at $1,413,896.25. The trade was 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 available through the SEC website. 0.35% of the stock is owned by company insiders.

International Paper Stock Performance

Shares of IP stock traded up $0.34 on Monday, reaching $50.48. The stock had a trading volume of 3,951,311 shares, compared to its average volume of 8,045,130. 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 has a 1 year low of $40.63 and a 1 year high of $60.36. The stock has a market cap of $26.65 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company has a 50 day simple moving average of $48.72 and a 200 day simple moving average of $53.42.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) 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 firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.66%. International Paper's dividend payout ratio (DPR) is 158.12%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IP. StockNews.com lowered shares of International Paper from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They set a "neutral" rating for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective for the company. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $40.00 target price (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.