Focus Partners Wealth Raises Holdings in International Paper (NYSE:IP)

Focus Partners Wealth boosted its stake in shares of International Paper (NYSE:IP) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 411,942 shares of the basic materials company’s stock after purchasing an additional 21,839 shares during the quarter. Focus Partners Wealth owned approximately 0.12% of International Paper worth $22,171,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IP. Sierra Ocean LLC purchased a new stake in International Paper during the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in International Paper during the 4th quarter worth about $26,000. Picton Mahoney Asset Management increased its holdings in International Paper by 67.0% during the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares during the period. Venturi Wealth Management LLC increased its holdings in International Paper by 90.2% during the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 295 shares during the period. Finally, City State Bank increased its holdings in International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

International Paper Stock Down 1.4%

Shares of NYSE IP opened at $44.31 on Monday. The stock has a market cap of $23.39 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $38.10 and a 52-week high of $60.36. The business has a 50-day moving average price of $48.93 and a 200 day moving average price of $53.44.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period last year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent analyst reports. Truist Financial dropped their price objective on International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. StockNews.com downgraded International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Wells Fargo & Company reiterated an “underweight” rating and issued a $40.00 price objective (down previously from $45.00) on shares of International Paper in a report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.21.

About International Paper

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.