International Paper (NYSE:IP) Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its stake in shares of International Paper (NYSE:IP) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,469 shares of the basic materials company’s stock after selling 1,518 shares during the period. Greenwood Capital Associates LLC’s holdings in International Paper were worth $1,371,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in International Paper during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in International Paper in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc boosted its stake in shares of International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the period. Finally, City State Bank grew its holdings in shares of International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Down 1.0 %

Shares of IP stock opened at $55.25 on Tuesday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a market cap of $19.19 billion, a PE ratio of 35.19 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $56.06 and its two-hundred day moving average is $51.71.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (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%. Equities analysts predict that International Paper will post 3.01 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, February 24th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.35%. International Paper’s payout ratio is presently 117.84%.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Friday. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.88.

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.