Romano Brothers AND Company Sells 42,446 Shares of International Paper (NYSE:IP)

Romano Brothers AND Company trimmed its position in International Paper (NYSE:IP - Free Report) by 62.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,407 shares of the basic materials company's stock after selling 42,446 shares during the quarter. Romano Brothers AND Company's holdings in International Paper were worth $1,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IP. Brooklyn Investment Group bought a new stake in International Paper in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in International Paper during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC bought a new position in International Paper during the third quarter worth about $28,000. Versant Capital Management Inc grew its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 448 shares during the period. Finally, City State Bank lifted its holdings in shares of International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 350 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

International Paper stock traded up $0.68 during mid-day trading on Friday, reaching $56.94. The company had a trading volume of 4,816,206 shares, compared to its average volume of 2,569,151. The business has a fifty day simple moving average of $56.01 and a 200 day simple moving average of $50.64. The company has a market cap of $19.78 billion, a P/E ratio of 48.67 and a beta of 1.03. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. 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 data 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 return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company posted $0.64 EPS. International Paper's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that International Paper will post 1.18 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $56.19, for a total transaction of $33,714.00. Following the transaction, the director now owns 37,745 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 1,800 shares of company stock valued at $100,848. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IP has been the topic of a number of research reports. Royal Bank of Canada lifted their price target 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. Truist Financial raised their price target on International Paper from $61.00 to $65.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, BNP Paribas cut 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 analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Paper has an average rating of "Moderate Buy" and a consensus target price of $51.99.

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.