Paradiem LLC Grows Stake in International Paper (NYSE:IP)

Paradiem LLC increased its holdings in International Paper (NYSE:IP) by 52.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 195,181 shares of the basic materials company’s stock after buying an additional 66,882 shares during the period. International Paper accounts for approximately 2.0% of Paradiem LLC’s portfolio, making the stock its 24th largest holding. Paradiem LLC owned approximately 0.06% of International Paper worth $7,056,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in shares of International Paper during the 3rd quarter worth $25,000. CVA Family Office LLC purchased a new position in shares of International Paper in the 4th quarter worth about $27,000. Venturi Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 753 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of International Paper during the 4th quarter valued at about $36,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of International Paper during the 3rd quarter valued at about $39,000. Institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

IP has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and set a $40.00 target price on shares of International Paper in a report on Wednesday, April 17th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Argus lowered International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Up 0.9 %

Shares of IP stock traded up $0.31 during trading hours on Friday, hitting $33.83. 6,735,103 shares of the company’s stock traded hands, compared to its average volume of 6,058,422. The company has a quick ratio of 1.19, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 69.04 and a beta of 0.99. The stock’s fifty day simple moving average is $36.64 and its two-hundred day simple moving average is $35.81. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28.

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 the consensus estimate of $0.23 by ($0.06). The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. International Paper’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, analysts expect that International Paper will post 1.9 EPS for the current year.

Insider Buying and Selling at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 8,800 shares of company stock worth $310,438. 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.