Moore Capital Management LP Has $7.79 Million Holdings in International Paper (NYSE:IP)

Moore Capital Management LP lessened its stake in shares of International Paper (NYSE:IP) by 37.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,724 shares of the basic materials company’s stock after selling 86,110 shares during the quarter. Moore Capital Management LP’s holdings in International Paper were worth $7,789,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in IP. Laurion Capital Management LP bought a new position in International Paper in the 4th quarter worth approximately $1,107,000. Lighthouse Investment Partners LLC increased its holdings in International Paper by 93.5% during the 4th quarter. Lighthouse Investment Partners LLC now owns 139,685 shares of the basic materials company’s stock valued at $7,518,000 after purchasing an additional 67,503 shares in the last quarter. Gotham Asset Management LLC grew its stake in shares of International Paper by 30.2% during the fourth quarter. Gotham Asset Management LLC now owns 318,731 shares of the basic materials company’s stock valued at $17,154,000 after purchasing an additional 73,881 shares during the last quarter. Focus Partners Wealth raised its position in International Paper by 5.6% in the 4th quarter. Focus Partners Wealth now owns 411,942 shares of the basic materials company’s stock worth $22,171,000 after purchasing an additional 21,839 shares during the last quarter. Finally, Eisler Capital Management Ltd. acquired a new position in International Paper during the 4th quarter worth $205,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 1.4%

Shares of NYSE IP opened at $44.31 on Monday. International Paper has a 52-week low of $38.10 and a 52-week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market cap of $23.39 billion, a P/E ratio of 28.22, a P/E/G ratio of 0.39 and a beta of 1.03. The firm has a 50 day moving average price of $48.93 and a 200 day moving average price of $53.44.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. Analysts expect that International Paper will post 2.77 EPS for the current year.

Insider Activity at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial lowered their target price on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Wells Fargo & Company reissued an “underweight” rating and set a $40.00 price objective (down from $45.00) on shares of International Paper in a report on Friday. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Bank of America assumed coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.21.

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.