IFM Investors Pty Ltd Sells 3,547 Shares of International Paper (NYSE:IP)

IFM Investors Pty Ltd reduced its position in shares of International Paper (NYSE:IP) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,934 shares of the basic materials company’s stock after selling 3,547 shares during the quarter. IFM Investors Pty Ltd’s holdings in International Paper were worth $2,963,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Manchester Capital Management LLC bought a new stake in International Paper in the 3rd quarter worth about $25,000. Jones Financial Companies Lllp raised its holdings in shares of International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of International Paper during the fourth quarter valued at approximately $27,000. MCF Advisors LLC boosted its holdings in International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in International Paper by 2,281.8% in the third 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 during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 8,800 shares of company stock valued at $310,438 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Up 0.9 %

International Paper stock traded up $0.31 during mid-day trading on Friday, reaching $33.83. 6,735,103 shares of the company were exchanged, compared to its average volume of 6,058,422. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.19 and a current ratio of 1.68. The firm has a market cap of $11.75 billion, a P/E ratio of 69.04 and a beta of 0.99. The business has a fifty day moving average of $36.64 and a 200 day moving average of $35.80. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Research analysts anticipate that International Paper will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on IP. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial reiterated a “buy” rating and issued a $40.00 target price on shares of International Paper in a report on Wednesday, April 17th. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Finally, Argus downgraded shares of 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 issued a buy rating to the company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Hold” and a consensus target price of $37.13.

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.