Choreo LLC Buys Shares of 7,823 International Paper (NYSE:IP)

Choreo LLC purchased a new position in International Paper (NYSE:IP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,823 shares of the basic materials company’s stock, valued at approximately $283,000.

Other institutional investors have also bought and sold shares of the company. Manchester Capital Management LLC bought a new stake in shares of International Paper in the third quarter valued at approximately $25,000. CVA Family Office LLC bought a new stake in International Paper during the 4th quarter valued at $27,000. Venturi Wealth Management LLC raised its holdings in International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 753 shares during the period. Princeton Global Asset Management LLC purchased a new stake in shares of International Paper during the fourth quarter worth $36,000. Finally, First Command Advisory Services Inc. bought a new position in shares of International Paper in the third quarter worth $39,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IP. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 target price on shares of International Paper in a research note on Friday, February 2nd. Finally, Truist Financial restated a “buy” rating and set a $40.00 price target on shares of International Paper in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.57.

International Paper Trading Up 1.3 %

Shares of International Paper stock opened at $36.29 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28. The firm has a market cap of $12.60 billion, a PE ratio of 74.06 and a beta of 1.01. The company has a 50 day simple moving average of $36.65 and a two-hundred day simple moving average of $35.81.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter last year, the business posted $0.53 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Analysts expect that International Paper will post 1.88 earnings per share for the current fiscal year.

Insider Buying and Selling at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 9,400 shares of company stock worth $331,402 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.

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.