Wright Investors Service Inc. Lowers Position in International Paper (NYSE:IP)

Wright Investors Service Inc. lowered its position in International Paper (NYSE:IP - Free Report) by 67.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,705 shares of the basic materials company's stock after selling 16,122 shares during the period. Wright Investors Service Inc.'s holdings in International Paper were worth $415,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in International Paper by 5.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company's stock valued at $160,000 after buying an additional 177 shares during the last quarter. Empirical Finance LLC lifted its holdings in International Paper by 1.9% during 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 boosted its position in 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 purchasing an additional 239 shares during the last quarter. Altrius Capital Management Inc grew its stake in International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company's stock valued at $4,854,000 after purchasing an additional 296 shares during the period. Finally, OneDigital Investment Advisors LLC increased its position in shares of International Paper by 5.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company's stock valued at $284,000 after purchasing an additional 314 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IP. Royal Bank of Canada boosted 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. Truist Financial boosted their target price on shares of International Paper from $61.00 to $65.00 and gave the company a "buy" rating in a research note 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 target price for the company. in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, International Paper presently has a consensus rating of "Moderate Buy" and an average price target of $51.99.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 37,745 shares in the company, valued at $2,120,891.55. This represents a 1.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 1,800 shares of company stock valued at $100,848. Corporate insiders own 0.55% of the company's stock.

International Paper Stock Performance

Shares of IP traded up $1.41 during trading hours on Tuesday, hitting $55.30. The company's stock had a trading volume of 3,767,530 shares, compared to its average volume of 4,168,341. The company has a market cap of $19.21 billion, a price-to-earnings ratio of 47.27 and a beta of 1.03. 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 business has a 50 day simple moving average of $56.17 and a two-hundred day simple moving average of $50.33. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities 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.