Cinctive Capital Management LP Sells 79,161 Shares of International Paper (NYSE:IP)

Cinctive Capital Management LP lessened its stake in International Paper (NYSE:IP) by 41.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,386 shares of the basic materials company’s stock after selling 79,161 shares during the quarter. Cinctive Capital Management LP’s holdings in International Paper were worth $6,102,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. SPC Financial Inc. grew its stake 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 valued at $759,000 after acquiring an additional 200 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of 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 in the last quarter. Inspire Advisors LLC boosted its position in shares of International Paper by 1.7% during 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 grew 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 in the last quarter. Finally, Kestra Private Wealth Services LLC increased 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 worth $820,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP stock opened at $53.62 on Wednesday. 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 price is $54.69 and its two-hundred day moving average price is $53.83. The stock has a market capitalization of $28.21 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, equities analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is currently 117.83%.

Wall Street Analyst Weigh In

IP has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price for the company. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research note on Friday, March 28th. Truist Financial reaffirmed a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Citigroup initiated coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.32.

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.