GSA Capital Partners LLP Sells 5,005 Shares of International Paper (NYSE:IP)

Posted by on Jun 9th, 2023

GSA Capital Partners LLP reduced its holdings in shares of International Paper (NYSE:IP – Get Rating) by 33.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,983 shares of the basic materials company’s stock after selling 5,005 shares during the quarter. GSA Capital Partners LLP’s holdings in International Paper were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. M&T Bank Corp increased its position in International Paper by 20.2% during the fourth quarter. M&T Bank Corp now owns 104,082 shares of the basic materials company’s stock valued at $3,283,000 after acquiring an additional 17,479 shares during the last quarter. Cornercap Investment Counsel Inc. increased its position in International Paper by 9.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 63,657 shares of the basic materials company’s stock valued at $2,204,000 after acquiring an additional 5,424 shares during the last quarter. Korea Investment CORP increased its position in International Paper by 8.1% during the fourth quarter. Korea Investment CORP now owns 137,340 shares of the basic materials company’s stock valued at $4,756,000 after acquiring an additional 10,284 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in International Paper by 5.9% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 71,938 shares of the basic materials company’s stock valued at $2,491,000 after acquiring an additional 4,024 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in International Paper by 17.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,764 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 566 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on IP shares. 51job reiterated a “maintains” rating on shares of International Paper in a research report on Friday, April 28th. 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. Deutsche Bank Aktiengesellschaft dropped their price target on International Paper from $31.00 to $27.00 in a research note on Monday, May 1st. Royal Bank of Canada raised International Paper from a “sector perform” rating to an “outperform” rating and dropped their price target for the company from $40.00 to $39.00 in a research note on Friday, April 28th. They noted that the move was a valuation call. Finally, 58.com reaffirmed a “maintains” rating on shares of International Paper in a research note on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, International Paper has a consensus rating of “Hold” and a consensus price target of $38.55.

Insider Transactions at International Paper

In other International Paper news, CEO Mark S. Sutton sold 85,000 shares of International Paper stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $34.58, for a total transaction of $2,939,300.00. Following the completion of the sale, the chief executive officer now owns 143,000 shares of the company’s stock, valued at approximately $4,944,940. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other International Paper news, SVP Joseph R. Saab sold 1,705 shares of International Paper stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $35.35, for a total transaction of $60,271.75. Following the completion of the sale, the senior vice president now owns 1,671 shares of the company’s stock, valued at approximately $59,069.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark S. Sutton sold 85,000 shares of International Paper stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $34.58, for a total value of $2,939,300.00. Following the sale, the chief executive officer now directly owns 143,000 shares of the company’s stock, valued at approximately $4,944,940. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

International Paper Trading Down 1.2 %

Shares of NYSE IP opened at $31.76 on Friday. The business’s 50 day moving average price is $33.23 and its 200-day moving average price is $35.50. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 8.80 and a beta of 1.04. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $47.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.55.

International Paper (NYSE:IP – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. International Paper had a return on equity of 14.87% and a net margin of 6.28%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the business posted $0.76 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts expect that International Paper will post 2.35 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 26th will be given a $0.4625 dividend. The ex-dividend date is Thursday, May 25th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.82%. International Paper’s payout ratio is 51.25%.

International Paper Profile

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International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment is involved in manufacturing containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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

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