Arkadios Wealth Advisors Lowers Position in International Paper (NYSE:IP)

Arkadios Wealth Advisors decreased its position in shares of International Paper (NYSE:IP) by 14.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 28,366 shares of the basic materials company’s stock after selling 4,744 shares during the period. Arkadios Wealth Advisors’ holdings in International Paper were worth $1,527,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after buying an additional 2,484,386 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Samlyn Capital LLC purchased a new stake in shares of International Paper in the 2nd quarter worth about $88,966,000. Finally, Ceredex Value Advisors LLC bought a new position in shares of International Paper in the 3rd quarter worth about $84,526,000. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,800 shares of company stock valued at $100,848 over the last three months. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of several research reports. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Royal Bank of Canada upped their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial lifted their price objective on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.99.

International Paper Stock Up 1.2 %

International Paper stock opened at $56.94 on Monday. The firm has a market cap of $19.78 billion, a price-to-earnings ratio of 48.67 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 12 month low of $32.70 and a 12 month high of $60.36. The stock has a fifty day simple moving average of $56.01 and a two-hundred day simple moving average of $50.69.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. International Paper’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities analysts predict that International Paper will post 1.18 EPS 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.