International Paper (NYSE:IP) Shares Sold by Steph & Co.

Steph & Co. decreased its position in shares of International Paper (NYSE:IP) by 44.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,584 shares of the basic materials company’s stock after selling 2,870 shares during the period. Steph & Co.’s holdings in International Paper were worth $193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of International Paper by 24.2% in the second quarter. American Century Companies Inc. now owns 454,376 shares of the basic materials company’s stock worth $19,606,000 after acquiring an additional 88,582 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in International Paper during the 2nd quarter worth $253,000. Envestnet Asset Management Inc. increased its holdings in International Paper by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 223,829 shares of the basic materials company’s stock worth $9,658,000 after purchasing an additional 7,068 shares during the period. Brown Brothers Harriman & Co. raised its position in International Paper by 90.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,950 shares of the basic materials company’s stock valued at $947,000 after purchasing an additional 10,427 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of International Paper during the second quarter worth about $119,012,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IP. Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial boosted their target price on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.

International Paper Trading Up 0.4 %

NYSE:IP opened at $55.64 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The stock’s 50 day moving average price is $56.12 and its 200 day moving average price is $50.42. The company has a market capitalization of $19.33 billion, a PE ratio of 47.56 and a beta of 1.03.

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

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 1,800 shares of company stock worth $100,848. Company 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.