Weatherly Asset Management L. P. Sells 1,823 Shares of International Paper (NYSE:IP)

Weatherly Asset Management L. P. cut its stake in International Paper (NYSE:IP) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,107 shares of the basic materials company’s stock after selling 1,823 shares during the quarter. Weatherly Asset Management L. P.’s holdings in International Paper were worth $871,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IP. Mizuho Markets Americas LLC purchased a new stake in International Paper in the third quarter valued at approximately $144,509,000. Acadian Asset Management LLC grew its position in International Paper by 208.0% in the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock worth $57,129,000 after acquiring an additional 1,087,933 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in International Paper by 13.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after acquiring an additional 1,011,315 shares during the last quarter. AQR Capital Management LLC lifted its stake in International Paper by 35.6% during the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after purchasing an additional 777,273 shares during the last quarter. Finally, Atlas FRM LLC boosted its holdings in shares of International Paper by 30.0% in the 3rd quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock worth $92,222,000 after purchasing an additional 600,000 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IP. Citigroup raised 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 report on Wednesday, March 20th. Wells Fargo & Company cut 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 report on Friday, February 2nd. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Truist Financial reiterated a “buy” rating and set a $40.00 price target on shares of International Paper in a research report on Wednesday, April 17th. Finally, StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Performance

International Paper stock traded down $0.15 during midday trading on Wednesday, reaching $34.26. 5,349,818 shares of the company traded hands, compared to its average volume of 4,846,960. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 41.96 and a beta of 0.99. The business has a 50 day moving average of $36.72 and a two-hundred day moving average of $35.84.

International Paper (NYSE:IP) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, research analysts predict that International Paper will post 1.91 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 8,800 shares of company stock valued at $310,438. 0.55% of the stock is owned by company insiders.

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.