Client 1ST Advisory Group LLC Makes New $257,000 Investment in International Paper (NYSE:IP)

Client 1ST Advisory Group LLC acquired a new stake in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,780 shares of the basic materials company's stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IP. FMR LLC lifted its position in International Paper by 88.4% during the third 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. Point72 Asset Management L.P. grew its stake in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company's stock valued at $145,106,000 after buying an additional 2,484,386 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company's stock worth $206,921,000 after buying an additional 2,354,341 shares during the period. Samlyn Capital LLC acquired a new position in International Paper in the second quarter valued at $88,966,000. Finally, Ceredex Value Advisors LLC purchased a new stake in International Paper during the third quarter valued at about $84,526,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IP has been the topic of several research analyst reports. BNP Paribas lowered International Paper from a "neutral" rating to an "underperform" rating and set a $48.20 price objective on the stock. in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price target on International Paper from $56.00 to $64.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price objective on International Paper from $61.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.99.

Insider Activity

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the sale, the director now directly owns 38,345 shares of the company's stock, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 1,800 shares of company stock worth $100,848. 0.55% of the stock is currently owned by corporate insiders.

International Paper Stock Up 1.2 %

NYSE IP traded up $0.68 during mid-day trading on Monday, reaching $56.94. 4,816,206 shares of the company's stock traded hands, compared to its average volume of 2,569,151. The company has a fifty day simple moving average of $56.01 and a 200-day simple moving average of $50.69. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 48.67 and a beta of 1.03. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) 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 analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts expect that International Paper will post 1.18 EPS for the current 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.