International Paper (NYSE:IP) Shares Sold by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC reduced its stake in shares of International Paper (NYSE:IP) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,356 shares of the basic materials company’s stock after selling 1,057 shares during the quarter. Recurrent Investment Advisors LLC’s holdings in International Paper were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IP. Pacer Advisors Inc. boosted its position in International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after acquiring an additional 7,424 shares during the last quarter. Wedmont Private Capital acquired a new position in International Paper in the fourth quarter valued at $376,000. Allspring Global Investments Holdings LLC grew its position in International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock valued at $46,686,000 after acquiring an additional 15,904 shares during the period. Merit Financial Group LLC acquired a new stake in International Paper during the fourth quarter worth about $372,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of International Paper during the 4th quarter worth about $788,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of International Paper stock opened at $50.35 on Thursday. 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 $39.51 and a 1 year high of $60.36. The firm’s 50-day simple moving average is $48.71 and its 200-day simple moving average is $53.38. The firm has a market cap of $26.58 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. Equities analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.67%. International Paper’s dividend payout ratio (DPR) is 158.12%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $40.00 price target (down from $45.00) on shares of International Paper in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Paper currently has an average rating of “Hold” and a consensus price target of $54.21.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

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.