Verdence Capital Advisors LLC Increases Holdings in International Paper (NYSE:IP)

Verdence Capital Advisors LLC lifted its position in International Paper (NYSE:IP) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,253 shares of the basic materials company’s stock after buying an additional 662 shares during the period. Verdence Capital Advisors LLC’s holdings in International Paper were worth $841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of IP. Desjardins Global Asset Management Inc. raised its position in 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 worth $31,000 after acquiring an additional 211 shares during the period. Manchester Capital Management LLC bought a new position in International Paper in the 3rd quarter worth $25,000. CVA Family Office LLC purchased a new position in International Paper during the fourth quarter valued at $27,000. Venturi Wealth Management LLC grew its holdings in 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 valued at $28,000 after purchasing an additional 753 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new stake in International Paper in the fourth quarter worth about $27,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research note on Wednesday, April 17th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their target price for the stock from $37.00 to $42.00 in a report on Monday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Finally, Argus lowered International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.13.

Insider Activity at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction dated Wednesday, February 28th. The shares were 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 of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 8,800 shares of company stock valued at $310,438 over the last 90 days. 0.55% of the stock is owned by corporate insiders.

International Paper Trading Up 0.3 %

Shares of IP stock opened at $35.37 on Monday. The stock’s 50-day moving average price is $36.73 and its 200-day moving average price is $35.84. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 43.13 and a beta of 0.99. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. Equities research analysts predict that International Paper will post 1.91 EPS for the current fiscal year.

International Paper 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.