Wesbanco Bank Inc. Sells 575 Shares of International Paper (NYSE:IP)

Wesbanco Bank Inc. trimmed its position in International Paper (NYSE:IP) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 19,777 shares of the basic materials company’s stock after selling 575 shares during the period. Wesbanco Bank Inc.’s holdings in International Paper were worth $1,064,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of IP. First Horizon Advisors Inc. lifted its position in shares of International Paper by 5.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock valued at $160,000 after buying an additional 177 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in International Paper by 14.7% in 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 acquiring an additional 205 shares during the period. Empirical Finance LLC lifted its holdings in International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 224 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in International Paper by 20.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 239 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in shares of International Paper by 5.7% in the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 314 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 0.6 %

Shares of International Paper stock opened at $58.55 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The firm has a market cap of $20.34 billion, a PE ratio of 50.04 and a beta of 1.03. The company has a 50 day simple moving average of $56.05 and a two-hundred day simple moving average of $50.95.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. Analysts expect that International Paper will post 1.18 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 1,800 shares of company stock worth $100,848. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BNP Paribas downgraded 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 raised their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price objective on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $51.99.

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.