International Paper (NYSE:IP) Holdings Cut by Trexquant Investment LP

Trexquant Investment LP decreased its stake in International Paper (NYSE:IP) by 41.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,584 shares of the basic materials company’s stock after selling 62,264 shares during the quarter. Trexquant Investment LP’s holdings in International Paper were worth $3,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC bought a new position in shares of International Paper during the 3rd quarter valued at $144,509,000. Norges Bank acquired a new position in International Paper in the 4th quarter valued at $94,913,000. Acadian Asset Management LLC grew its stake in International Paper by 208.0% in the 3rd quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock valued at $57,129,000 after buying an additional 1,087,933 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after buying an additional 1,011,315 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after buying an additional 777,273 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IP. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $57.00 in a research note on Thursday. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Truist Financial restated a “buy” rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. Finally, Wells Fargo & Company reduced their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.14.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 9,400 shares of company stock worth $334,570 in the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of NYSE IP traded up $1.30 during mid-day trading on Friday, reaching $45.46. 9,638,081 shares of the company were exchanged, compared to its average volume of 7,872,275. The company’s 50-day simple moving average is $38.17 and its 200-day simple moving average is $36.52. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $15.79 billion, a P/E ratio of 92.78 and a beta of 1.01. International Paper has a twelve month low of $29.00 and a twelve month high of $46.10.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts predict that International Paper will post 1.85 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be given a dividend of $0.4625 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.07%. International Paper’s payout ratio is presently 377.55%.

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.