Avanza Fonder AB Purchases New Shares in International Paper (NYSE:IP)

Avanza Fonder AB purchased a new position in International Paper (NYSE:IP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 36,594 shares of the basic materials company's stock, valued at approximately $1,969,000.

Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its stake in shares of International Paper by 5.7% in the third quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company's stock worth $160,000 after acquiring an additional 177 shares during the period. Empirical Finance LLC increased its stake in shares of International Paper by 1.9% in the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company's stock worth $599,000 after acquiring an additional 224 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company's stock worth $68,000 after acquiring an additional 239 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in International Paper by 5.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company's stock worth $284,000 after buying an additional 314 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in International Paper by 38.8% during the third quarter. Assetmark Inc. now owns 1,184 shares of the basic materials company's stock worth $58,000 after buying an additional 331 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

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

International Paper Trading Up 1.2 %

Shares of NYSE:IP traded up $0.68 during mid-day trading on Friday, reaching $56.94. 4,816,206 shares of the company were exchanged, compared to its average volume of 2,569,151. 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 firm's 50-day simple moving average is $56.01 and its 200 day simple moving average is $50.69. International Paper has a 1 year low of $32.70 and a 1 year 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.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts forecast that International Paper will post 1.18 EPS for the current year.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 1,800 shares of company stock worth $100,848. Corporate insiders own 0.55% of the company's stock.

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.