Sequoia Financial Advisors LLC Acquires New Holdings in International Paper (NYSE:IP)

Sequoia Financial Advisors LLC acquired a new stake in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,577 shares of the basic materials company’s stock, valued at approximately $310,000.

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

Insider Activity

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 8,800 shares of company stock worth $310,438. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Up 0.6 %

IP opened at $35.26 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 current ratio of 1.67 and a quick ratio of 1.19. The firm’s fifty day moving average price is $36.73 and its two-hundred day moving average price is $35.83. The company has a market capitalization of $12.25 billion, a P/E ratio of 43.00 and a beta of 0.99.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Truist Financial restated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.13.

International Paper Company Profile

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.