Ingalls & Snyder LLC Sells 655 Shares of International Paper (NYSE:IP)

Ingalls & Snyder LLC lowered its stake in International Paper (NYSE:IP) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,972 shares of the basic materials company’s stock after selling 655 shares during the period. Ingalls & Snyder LLC’s holdings in International Paper were worth $324,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC bought a new position in International Paper in the third quarter valued at about $25,000. CVA Family Office LLC bought a new position in International Paper in the fourth quarter valued at about $27,000. Resurgent Financial Advisors LLC bought a new position in International Paper in the fourth quarter valued at about $27,000. Venturi Wealth Management LLC grew its holdings in shares of International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 753 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. grew its holdings in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IP. Wells Fargo & Company decreased their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday, March 20th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, International Paper currently has a consensus rating of “Hold” and an average price target of $37.13.

Insiders Place Their Bets

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 8,200 shares of company stock worth $287,770. 0.51% of the stock is currently owned by company insiders.

International Paper Trading Down 1.8 %

NYSE IP opened at $37.14 on Friday. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The stock has a 50 day simple moving average of $36.57 and a two-hundred day simple moving average of $35.82. The stock has a market cap of $12.90 billion, a P/E ratio of 45.29 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business posted $0.87 EPS. The business’s revenue was down 10.4% on a year-over-year basis. On average, analysts forecast that International Paper will post 1.88 earnings per share 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.