Seed Wealth Management Inc. Purchases Shares of 3,855 International Paper (NYSE:IP)

Seed Wealth Management Inc. acquired a new stake in shares of International Paper (NYSE:IP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,855 shares of the basic materials company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Lord Abbett & CO. LLC acquired a new stake in International Paper during the third quarter valued at $24,327,000. Aptus Capital Advisors LLC grew its position in shares of International Paper by 15.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 785 shares during the period. Curi RMB Capital LLC acquired a new stake in shares of International Paper during the 3rd quarter valued at about $4,870,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of International Paper by 5.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock valued at $45,788,000 after purchasing an additional 49,125 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new position in International Paper in the 4th quarter worth about $828,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 38,345 shares in the company, valued at $2,051,457.50. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 1,800 shares of company stock worth $100,848 in the last three months. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on IP shares. Truist Financial boosted their price objective on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada upped their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average price target of $51.99.

International Paper Stock Performance

IP opened at $53.85 on Tuesday. The firm has a market capitalization of $18.71 billion, a PE ratio of 46.03 and a beta of 1.03. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The firm’s 50-day moving average price is $56.17 and its 200 day moving average price is $50.33.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

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.