Client 1ST Advisory Group LLC Invests $257,000 in International Paper (NYSE:IP)

Client 1ST Advisory Group LLC purchased a new position in shares of International Paper (NYSE:IP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,780 shares of the basic materials company’s stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IP. Lord Abbett & CO. LLC purchased a new position in shares of International Paper during the 3rd quarter worth approximately $24,327,000. Aptus Capital Advisors LLC raised its position in International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 785 shares in the last quarter. Wedmont Private Capital acquired a new stake in International Paper in the fourth quarter valued at $376,000. Curi RMB Capital LLC purchased a new stake in shares of International Paper during the 3rd quarter worth $4,870,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of International Paper by 5.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock worth $45,788,000 after purchasing an additional 49,125 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $53.50, for a total transaction of $32,100.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 1,800 shares of company stock valued at $100,848. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on IP shares. Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research report on Wednesday, November 13th. Finally, Truist Financial boosted their price target on International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and a consensus target price of $51.99.

International Paper Stock Up 1.2 %

IP stock opened at $56.94 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The firm has a market capitalization of $19.78 billion, a PE ratio of 48.67 and a beta of 1.03. The company’s 50 day simple moving average is $56.01 and its 200-day simple moving average is $50.69.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the business posted $0.64 earnings per share. International Paper’s revenue was up 1.6% compared to the same quarter last year. Equities analysts expect that International Paper will post 1.18 earnings per share for the current fiscal 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.