Cwm LLC Trims Holdings in International Paper (NYSE:IP)

Cwm LLC reduced its holdings in shares of International Paper (NYSE:IP) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,043 shares of the basic materials company’s stock after selling 2,572 shares during the quarter. Cwm LLC’s holdings in International Paper were worth $587,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the last quarter. CVA Family Office LLC bought a new position in International Paper during the fourth quarter worth $27,000. Assetmark Inc. lifted its stake in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 649 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in International Paper during the fourth quarter worth $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in International Paper during the fourth quarter worth $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IP. Truist Financial raised their price objective on International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Argus cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and increased their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company increased their target price on International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus price target of $44.71.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $44.58, for a total transaction of $26,748.00. Following the transaction, the director now directly owns 45,479 shares of the company’s stock, valued at $2,027,453.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 3,600 shares of company stock valued at $144,744. Company insiders own 0.55% of the company’s stock.

International Paper Price Performance

Shares of IP opened at $46.08 on Friday. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 94.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. International Paper has a one year low of $30.23 and a one year high of $46.77. The stock’s fifty day moving average is $40.79 and its 200-day moving average is $38.07.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. International Paper’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. Equities analysts anticipate that International Paper will post 1.84 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is 377.55%.

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.