Wright Investors Service Inc. Sells 16,122 Shares of International Paper (NYSE:IP)

Wright Investors Service Inc. lowered its stake in shares of International Paper (NYSE:IP) by 67.7% in the fourth quarter, Holdings Channel reports. The firm owned 7,705 shares of the basic materials company’s stock after selling 16,122 shares during the period. Wright Investors Service Inc.’s holdings in International Paper were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its holdings in shares of International Paper by 5.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,282 shares of the basic materials company’s stock worth $160,000 after buying an additional 177 shares during the period. Empirical Finance LLC boosted its holdings in International Paper by 1.9% during the third quarter. Empirical Finance LLC now owns 12,270 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 224 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares during the last quarter. Altrius Capital Management Inc increased its stake in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 296 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its position in shares of International Paper by 5.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,824 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 314 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 1,800 shares of company stock valued at $100,848. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.4 %

Shares of IP stock opened at $53.85 on Tuesday. The firm has a fifty day moving average of $56.17 and a 200-day moving average of $50.33. The stock has a market cap of $18.71 billion, a price-to-earnings ratio of 46.03 and a beta of 1.03. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that International Paper will post 1.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada lifted their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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 note on Wednesday, November 13th. Finally, Truist Financial increased their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and a consensus price target of $51.99.

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.