Monte Financial Group LLC Has $203,000 Stock Holdings in International Paper (NYSE:IP)

Monte Financial Group LLC reduced its holdings in International Paper (NYSE:IP) by 95.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,772 shares of the basic materials company’s stock after selling 85,930 shares during the quarter. Monte Financial Group LLC’s holdings in International Paper were worth $203,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in International Paper in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new position in shares of International Paper in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in shares of International Paper in the 3rd quarter valued at $28,000. Versant Capital Management Inc increased its position 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 worth $32,000 after buying an additional 448 shares during the period. Finally, City State Bank raised its stake in International Paper by 107.7% during the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $60.08 on Friday. The firm has a 50-day moving average price of $56.14 and a 200-day moving average price of $51.12. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $20.87 billion, a price-to-earnings ratio of 51.35 and a beta of 1.03.

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

Insider Activity 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. Over the last quarter, insiders sold 1,800 shares of company stock valued at $100,848. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IP shares. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Truist Financial boosted their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada upped their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.