Lmcg Investments LLC Cuts Position in International Paper (NYSE:IP)

Lmcg Investments LLC lowered its holdings in shares of International Paper (NYSE:IP) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,281 shares of the basic materials company’s stock after selling 250 shares during the period. Lmcg Investments LLC’s holdings in International Paper were worth $1,145,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IP. FMR LLC raised its stake in shares of International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares during the period. Geode Capital Management LLC raised its position in International Paper by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after acquiring an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in International Paper by 125.1% during the third 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 purchasing an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after purchasing an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of International Paper by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after purchasing an additional 537,825 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on IP. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. Truist Financial boosted their price target on International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. 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 news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the completion of the transaction, the director now directly owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % 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 have sold 1,800 shares of company stock worth $100,848 over the last quarter. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

Shares of IP stock opened at $58.38 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market capitalization of $20.28 billion, a PE ratio of 49.90 and a beta of 1.03. The firm’s 50-day moving average is $55.99 and its two-hundred day moving average is $50.79. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36.

International Paper (NYSE:IP) last released its quarterly 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 net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts predict that International Paper will post 1.18 earnings per share for the current 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.