Hussman Strategic Advisors Inc. Sells 10,000 Shares of International Paper (NYSE:IP)

Hussman Strategic Advisors Inc. trimmed its position in International Paper (NYSE:IP) by 32.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,000 shares of the basic materials company’s stock after selling 10,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in International Paper were worth $759,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new position in shares of International Paper in the 3rd quarter valued at $25,000. CVA Family Office LLC acquired a new position in International Paper during the 4th quarter worth approximately $27,000. Resurgent Financial Advisors LLC bought a new position in International Paper in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its position in 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 buying an additional 753 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. grew its stake 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 buying an additional 211 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 0.4 %

NYSE:IP opened at $35.50 on Monday. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The firm’s fifty day moving average is $36.73 and its 200-day moving average is $35.84. The firm has a market cap of $12.33 billion, a P/E ratio of 43.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating 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 business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts expect that International Paper will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IP shares. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Wells Fargo & Company lowered their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $40.00 price target on shares of International Paper in a research note on Wednesday, April 17th. Finally, Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.13.

Insider Activity

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper 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 sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 8,800 shares of company stock valued at $310,438 in the last ninety days. 0.55% of the stock is owned by company insiders.

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.