International Paper (NYSE:IP) Position Decreased by Wright Investors Service Inc.

Wright Investors Service Inc. reduced its holdings in International Paper (NYSE:IP) by 67.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,705 shares of the basic materials company’s stock after selling 16,122 shares during the quarter. Wright Investors Service Inc.’s holdings in International Paper were worth $415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of International Paper in the third quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper in the 3rd quarter worth $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper during the third quarter worth $28,000. Versant Capital Management Inc lifted its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the last quarter. Finally, City State Bank boosted its position in shares of International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 350 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IP. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Royal Bank of Canada boosted their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial raised their price objective on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $51.99.

Insider Transactions at International Paper

In other International Paper 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 of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 1,800 shares of company stock valued at $100,848 in the last three months. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Down 0.4 %

International Paper stock opened at $53.85 on Tuesday. The firm’s 50 day moving average price is $56.17 and its two-hundred day moving average price is $50.33. The firm has a market cap of $18.71 billion, a PE ratio of 46.03 and a beta of 1.03. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion for 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%. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. On average, research analysts predict that International Paper will post 1.18 EPS for the current fiscal year.

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.