Handelsbanken Fonder AB Decreases Stake in International Paper (NYSE:IP)

Handelsbanken Fonder AB reduced its stake in shares of International Paper (NYSE:IP) by 55.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,093 shares of the basic materials company’s stock after selling 100,711 shares during the period. Handelsbanken Fonder AB’s holdings in International Paper were worth $2,932,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IP. Manchester Capital Management LLC bought a new position in International Paper in the 3rd quarter worth approximately $25,000. CVA Family Office LLC bought a new position in International Paper in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC boosted its holdings in International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after buying an additional 753 shares during the period. Princeton Global Asset Management LLC bought a new position in International Paper in the 4th quarter valued at $36,000. Finally, First Command Advisory Services Inc. bought a new position in International Paper in the 3rd quarter valued at $39,000. 81.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on IP shares. Wells Fargo & Company cut their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Truist Financial restated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Finally, Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, International Paper presently has an average rating of “Hold” and an average price target of $37.13.

International Paper Price Performance

Shares of NYSE:IP opened at $33.83 on Friday. The stock has a market cap of $11.75 billion, a PE ratio of 41.26 and a beta of 0.99. The company’s fifty day moving average is $36.64 and its 200 day moving average is $35.80. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. International Paper’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. Research analysts anticipate that International Paper will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 8,800 shares of company stock valued at $310,438 in the last quarter. Insiders own 0.55% of the company’s stock.

International Paper Company 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.