International Paper (NYSE:IP) Shares Sold by Clearline Capital LP

Clearline Capital LP cut its stake in shares of International Paper (NYSE:IP) by 25.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 205,560 shares of the basic materials company’s stock after selling 70,448 shares during the period. International Paper accounts for about 1.5% of Clearline Capital LP’s portfolio, making the stock its 22nd largest position. Clearline Capital LP’s holdings in International Paper were worth $11,063,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. SPC Financial Inc. increased its position in International Paper by 1.4% during the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after buying an additional 200 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 204 shares during the last quarter. Inspire Advisors LLC raised its holdings in International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after acquiring an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of International Paper by 14.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 205 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction that occurred 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 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 at the SEC website. 0.35% of the stock is owned by insiders.

International Paper Price Performance

Shares of NYSE:IP opened at $43.83 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $49.27 and its two-hundred day moving average is $53.41. The firm has a market capitalization of $23.14 billion, a P/E ratio of 27.92, a PEG ratio of 0.39 and a beta of 1.03. International Paper has a 52 week low of $38.10 and a 52 week high of $60.36.

International Paper (NYSE:IP) 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 the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the company posted $0.17 EPS. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. Analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IP. Truist Financial cut their target price on International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. initiated coverage on International Paper in a research note on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. Wells Fargo & Company decreased their price target on International Paper from $52.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, StockNews.com lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Monday. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.77.

International Paper 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.