Thoroughbred Financial Services LLC Sells 639 Shares of International Paper (NYSE:IP)

Thoroughbred Financial Services LLC decreased its position in International Paper (NYSE:IP) by 10.3% during the 4th quarter, Holdings Channel reports. The firm owned 5,556 shares of the basic materials company’s stock after selling 639 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in International Paper were worth $200,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IP. Greenhaven Associates Inc. grew its holdings in International Paper by 0.3% during the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock worth $355,550,000 after acquiring an additional 25,640 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in International Paper by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock worth $319,844,000 after acquiring an additional 35,930 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in International Paper during the 3rd quarter worth about $144,509,000. Northern Trust Corp grew 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 acquiring an additional 151,084 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in 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 during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of NYSE:IP opened at $44.16 on Friday. The company has a market capitalization of $15.34 billion, a price-to-earnings ratio of 90.12 and a beta of 1.01. The firm’s 50 day simple moving average is $37.99 and its 200 day simple moving average is $36.44. 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 has a fifty-two week low of $29.00 and a fifty-two week high of $44.50.

International Paper (NYSE:IP) 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). The firm had revenue of $4.62 billion during 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%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts forecast that International Paper will post 1.85 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.19%. International Paper’s dividend payout ratio is 377.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IP. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Truist Financial restated a “buy” rating and set a $40.00 target price on shares of International Paper in a research report on Wednesday, April 17th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $57.00 in a research report on Thursday. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.14.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 9,400 shares of company stock worth $334,570 in the last ninety days. Company insiders own 0.55% of the company’s stock.

International Paper Company 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.