Carret Asset Management LLC Decreases Stock Holdings in International Paper (NYSE:IP)

Carret Asset Management LLC trimmed its position in shares of International Paper (NYSE:IP) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,651 shares of the basic materials company’s stock after selling 2,450 shares during the period. Carret Asset Management LLC’s holdings in International Paper were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in International Paper by 37.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock valued at $39,000 after buying an additional 295 shares during the period. Allworth Financial LP raised its holdings in International Paper by 4.7% during the 3rd quarter. Allworth Financial LP now owns 6,849 shares of the basic materials company’s stock valued at $243,000 after buying an additional 306 shares during the period. XML Financial LLC raised its holdings in International Paper by 0.4% during the 3rd quarter. XML Financial LLC now owns 87,859 shares of the basic materials company’s stock valued at $3,116,000 after buying an additional 312 shares during the period. Parkside Financial Bank & Trust raised its holdings in International Paper by 19.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock valued at $67,000 after buying an additional 314 shares during the period. Finally, Pinion Investment Advisors LLC raised its holdings in International Paper by 1.9% during the 4th quarter. Pinion Investment Advisors LLC now owns 19,506 shares of the basic materials company’s stock valued at $705,000 after buying an additional 361 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the 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 $2,414,708. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IP shares. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and increased their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Finally, Argus downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.13.

International Paper Stock Up 0.1 %

IP stock traded up $0.02 during trading on Wednesday, reaching $34.43. 8,135,417 shares of the company traded hands, compared to its average volume of 4,885,861. International Paper has a 12 month low of $29.00 and a 12 month high of $41.28. The business has a 50 day simple moving average of $36.72 and a 200 day simple moving average of $35.84. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 41.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the company earned $0.87 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper will post 1.91 earnings per share for the current fiscal year.

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.