Aquatic Capital Management LLC Lowers Stock Holdings in International Paper (NYSE:IP)

Aquatic Capital Management LLC reduced its holdings in International Paper (NYSE:IP) by 65.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,327 shares of the basic materials company’s stock after selling 231,773 shares during the period. Aquatic Capital Management LLC’s holdings in International Paper were worth $6,584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its stake in International Paper by 4.5% in the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock valued at $44,774,000 after buying an additional 39,404 shares in the last quarter. Bard Financial Services Inc. acquired a new position in shares of International Paper during the third quarter valued at approximately $305,000. World Investment Advisors LLC raised its holdings in shares of International Paper by 6.1% during the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock valued at $449,000 after acquiring an additional 529 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of International Paper in the third quarter valued at approximately $614,000. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of International Paper in the third quarter worth approximately $895,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IP shares. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Citigroup started coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.77.

International Paper Stock Performance

International Paper stock opened at $47.42 on Friday. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. 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 firm has a 50 day simple moving average of $50.97 and a 200-day simple moving average of $53.57. International Paper has a 1-year low of $33.28 and a 1-year high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. On average, analysts expect that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a yield of 3.90%. International Paper’s payout ratio is currently 117.83%.

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.