Axxcess Wealth Management LLC Invests $454,000 in International Paper (NYSE:IP)

Axxcess Wealth Management LLC purchased a new position in shares of International Paper (NYSE:IP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,560 shares of the basic materials company’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathstone Family Office LLC purchased a new position in International Paper in the 3rd quarter valued at $1,164,000. StrategIQ Financial Group LLC acquired a new position in shares of International Paper during the fourth quarter worth about $2,271,000. Metis Global Partners LLC raised its holdings in International Paper by 6.7% during the third quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after purchasing an additional 1,376 shares in the last quarter. SteelPeak Wealth LLC lifted its position in International Paper by 40.5% in the third quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock valued at $743,000 after purchasing an additional 6,033 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in International Paper by 263.1% in the 4th quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock valued at $4,151,000 after purchasing an additional 83,203 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Up 1.1 %

Shares of IP stock opened at $39.28 on Thursday. International Paper has a twelve month low of $29.00 and a twelve month high of $41.30. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 80.16 and a beta of 1.01. The firm has a 50-day moving average price of $36.84 and a 200 day moving average price of $35.88. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

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

Insider Activity

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper 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 transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 9,400 shares of company stock valued at $331,402 in the last 90 days. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IP shares. Truist Financial restated a “buy” rating and issued a $40.00 price target on shares of International Paper in a research note on Wednesday, April 17th. Wells Fargo & Company lowered their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and upped their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.57.

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.