6,955 Shares in International Paper (NYSE:IP) Acquired by Wedmont Private Capital

Wedmont Private Capital purchased a new stake in International Paper (NYSE:IP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,955 shares of the basic materials company's stock, valued at approximately $376,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City State Bank boosted its position in International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company's stock worth $36,000 after purchasing an additional 350 shares in the last quarter. Czech National Bank lifted its stake in shares of International Paper by 6.4% in the 4th quarter. Czech National Bank now owns 75,325 shares of the basic materials company's stock valued at $4,054,000 after purchasing an additional 4,563 shares during the period. ST Germain D J Co. Inc. boosted its holdings in International Paper by 315.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,786 shares of the basic materials company's stock worth $96,000 after buying an additional 1,356 shares in the last quarter. Nordea Investment Management AB grew its position in International Paper by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 270,044 shares of the basic materials company's stock valued at $14,539,000 after buying an additional 4,695 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in International Paper in the fourth quarter valued at $828,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares of the company's stock, valued at $2,051,457.50. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,800 shares of company stock worth $100,848 in the last ninety days. Insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IP shares. BNP Paribas lowered shares of International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price 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 report on Friday, November 1st. Finally, Truist Financial raised their price objective on International Paper from $61.00 to $65.00 and gave the company a "buy" rating in a report on Monday, January 6th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $51.99.

International Paper Trading Up 0.4 %

Shares of IP stock opened at $55.64 on Thursday. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The firm has a market capitalization of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03. The stock's fifty day moving average is $56.12 and its two-hundred day moving average is $50.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping 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 the consensus estimate of $4.70 billion. During the same period last year, the firm posted $0.64 earnings per share. The company's revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts expect that International Paper will post 1.18 earnings per share 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.