International Paper (NYSE:IP) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. trimmed its position in shares of International Paper (NYSE:IP) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,107 shares of the basic materials company’s stock after selling 1,823 shares during the period. Weatherly Asset Management L. P.’s holdings in International Paper were worth $871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Greenhaven Associates Inc. increased its position in shares of International Paper by 0.3% in the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after purchasing an additional 25,640 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in International Paper by 13.0% in the third 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. Mizuho Markets Americas LLC acquired a new stake in International Paper in the third quarter valued at $144,509,000. Northern Trust Corp lifted its holdings in International Paper by 4.4% during the 3rd quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock worth $128,246,000 after buying an additional 151,084 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of International Paper by 35.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after acquiring an additional 777,273 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

International Paper stock traded down $0.15 during mid-day trading on Wednesday, reaching $34.26. The company had a trading volume of 5,349,818 shares, compared to its average volume of 4,846,960. The stock’s 50-day simple moving average is $36.72 and its 200-day simple moving average is $35.84. The company has a market capitalization of $11.90 billion, a P/E ratio of 41.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. On average, equities analysts predict that International Paper will post 1.91 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their target price for the company from $37.00 to $42.00 in a report on Monday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Finally, StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.13.

Insider Activity

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,800 shares of company stock worth $310,438 over the last ninety days. 0.55% 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.