3,990 Shares in International Paper (NYSE:IP) Acquired by Red Door Wealth Management LLC

Red Door Wealth Management LLC acquired a new stake in International Paper (NYSE:IP) in the 4th quarter, Holdings Channel.com reports. The fund acquired 3,990 shares of the basic materials company’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently modified their holdings of IP. Brooklyn Investment Group bought a new position in International Paper in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper in the 3rd quarter valued at $28,000. Versant Capital Management Inc raised its holdings in shares of International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares in the last quarter. Finally, City State Bank lifted its position in shares of International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their target price on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial lifted their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, BNP Paribas downgraded shares of 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.99.

International Paper Trading Up 2.5 %

IP opened at $60.08 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The company’s 50 day moving average price is $56.09 and its two-hundred day moving average price is $51.00. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 51.35 and a beta of 1.03.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts predict that International Paper will post 1.18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’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 owns 37,745 shares in the company, valued at $2,120,891.55. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,800 shares of company stock valued at $100,848 over the last ninety days. 0.55% of the stock is owned by company insiders.

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.