Mitchell & Pahl Private Wealth LLC Purchases 1,629 Shares of International Paper (NYSE:IP)

Mitchell & Pahl Private Wealth LLC boosted its holdings in International Paper (NYSE:IP) by 3.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,562 shares of the basic materials company’s stock after buying an additional 1,629 shares during the period. International Paper accounts for approximately 1.2% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 19th largest position. Mitchell & Pahl Private Wealth LLC’s holdings in International Paper were worth $2,667,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in International Paper during the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper during the third quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of International Paper in the third quarter worth approximately $28,000. Versant Capital Management Inc boosted its holdings in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Finally, City State Bank increased its position in International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 350 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 1.2 %

NYSE:IP opened at $56.94 on Tuesday. The firm has a fifty day simple moving average of $56.01 and a two-hundred day simple moving average of $50.69. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The stock has a market capitalization 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 (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now directly owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 1,800 shares of company stock valued at $100,848. Company insiders own 0.55% of the company’s stock.

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.