Goldman Sachs Group Inc. Lowers Stock Position in International Paper (NYSE:IP)

Goldman Sachs Group Inc. decreased its holdings in International Paper (NYSE:IPFree Report) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,889,197 shares of the basic materials company’s stock after selling 797,453 shares during the quarter. Goldman Sachs Group Inc. owned about 0.83% of International Paper worth $104,444,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Manchester Capital Management LLC acquired a new stake in shares of International Paper during the third quarter worth about $25,000. Jones Financial Companies Lllp raised its stake in International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 475 shares during the last quarter. CVA Family Office LLC acquired a new stake in International Paper during the 4th quarter worth approximately $27,000. Assetmark Inc. grew its stake in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of International Paper during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $44.58, for a total transaction of $26,748.00. Following the completion of the transaction, the director now directly owns 45,479 shares in the company, valued at approximately $2,027,453.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 3,600 shares of company stock worth $139,332 over the last ninety days. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IP. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Wells Fargo & Company lifted their target price on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Truist Financial boosted their target price on International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Citigroup raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average target price of $44.71.

Check Out Our Latest Stock Analysis on International Paper

International Paper Stock Performance

NYSE IP opened at $45.21 on Monday. The business has a 50 day moving average price of $39.37 and a 200 day moving average price of $37.38. The company has a market capitalization of $15.70 billion, a P/E ratio of 92.27 and a beta of 1.06. International Paper has a 1-year low of $30.23 and a 1-year high of $46.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IPGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Sell-side analysts expect that International Paper will post 1.92 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

International Paper Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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