Aigen Investment Management LP Sells 7,282 Shares of International Paper (NYSE:IP)

Aigen Investment Management LP lowered its stake in shares of International Paper (NYSE:IP) by 64.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,956 shares of the basic materials company’s stock after selling 7,282 shares during the quarter. Aigen Investment Management LP’s holdings in International Paper were worth $213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. raised its position in shares of International Paper by 5.7% during the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 177 shares during the last quarter. SPC Financial Inc. increased its position in International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock worth $759,000 after purchasing an additional 200 shares during the period. AlphaMark Advisors LLC raised its holdings in International Paper by 5.7% during the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of International Paper by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

IP has been the subject of several recent research reports. Bank of America assumed coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Truist Financial reiterated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper Stock Performance

Shares of IP opened at $52.39 on Monday. The firm has a market cap of $27.56 billion, a P/E ratio of 33.37, a PEG ratio of 0.39 and a beta of 1.02. International Paper has a twelve month low of $33.16 and a twelve month 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 firm’s 50 day moving average price is $55.49 and its two-hundred day moving average price is $53.30.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, analysts forecast that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.53%. International Paper’s payout ratio is presently 117.83%.

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.