Artemis Investment Management LLP Has $108.71 Million Stake in International Paper (NYSE:IP)

Artemis Investment Management LLP raised its holdings in International Paper (NYSE:IP - Free Report) by 147.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,019,806 shares of the basic materials company's stock after buying an additional 1,202,632 shares during the quarter. International Paper accounts for approximately 1.5% of Artemis Investment Management LLP's holdings, making the stock its 11th biggest holding. Artemis Investment Management LLP owned approximately 0.58% of International Paper worth $108,706,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IP. Brooklyn Investment Group acquired a new stake in International Paper in the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper in the 3rd quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper during the 3rd quarter worth about $28,000. Versant Capital Management Inc lifted its holdings in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 448 shares during the last quarter. Finally, City State Bank boosted its position in International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company's stock valued at $36,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the sale, the director now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 1,800 shares of company stock worth $100,848. 0.55% of the stock is owned by insiders.

International Paper Trading Up 1.2 %

IP stock traded up $0.68 during midday trading on Monday, reaching $56.94. The stock had a trading volume of 4,816,206 shares, compared to its average volume of 2,569,151. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. 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 business 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 - 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 analysts' consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. International Paper's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on IP. Royal Bank of Canada lifted their target price on shares of International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. BNP Paribas cut International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Finally, Truist Financial raised their target price 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.99.

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.