Valeo Financial Advisors LLC lifted its position in International Paper Co (NYSE:IP) by 131.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,573 shares of the basic materials company’s stock after acquiring an additional 2,027 shares during the period. Valeo Financial Advisors LLC’s holdings in International Paper were worth $165,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Nachman Norwood & Parrott Inc bought a new position in shares of International Paper in the first quarter valued at $238,000. NuWave Investment Management LLC grew its stake in shares of International Paper by 1,589.2% in the first quarter. NuWave Investment Management LLC now owns 2,804 shares of the basic materials company’s stock valued at $130,000 after buying an additional 2,638 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of International Paper by 8.3% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,324 shares of the basic materials company’s stock valued at $385,000 after buying an additional 640 shares in the last quarter. Old North State Trust LLC grew its stake in shares of International Paper by 80.5% in the first quarter. Old North State Trust LLC now owns 1,422 shares of the basic materials company’s stock valued at $65,000 after buying an additional 634 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. grew its stake in shares of International Paper by 8.9% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 8,534 shares of the basic materials company’s stock valued at $395,000 after buying an additional 700 shares in the last quarter. 81.58% of the stock is owned by institutional investors and hedge funds.
In other news, insider John V. Sims sold 12,667 shares of International Paper stock in a transaction on Friday, March 1st. The stock was sold at an average price of $45.96, for a total transaction of $582,175.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy S. Nicholls sold 45,000 shares of International Paper stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $46.67, for a total value of $2,100,150.00. The disclosure for this sale can be found here. Insiders have sold 85,760 shares of company stock valued at $4,016,587 in the last three months. Insiders own 0.32% of the company’s stock.
Shares of International Paper stock opened at $47.76 on Monday. International Paper Co has a 1 year low of $37.55 and a 1 year high of $59.57. The firm has a market cap of $18.89 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 0.96 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.49 and a quick ratio of 1.01.
International Paper (NYSE:IP) last posted its earnings results on Thursday, January 31st. The basic materials company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.04. International Paper had a return on equity of 30.83% and a net margin of 8.63%. The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.86 billion. On average, sell-side analysts forecast that International Paper Co will post 5.14 EPS for the current fiscal year.
IP has been the subject of several analyst reports. Barclays decreased their target price on shares of International Paper from $40.00 to $39.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. Zacks Investment Research downgraded International Paper from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Royal Bank of Canada downgraded International Paper from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $54.00 to $47.00 in a report on Friday, April 5th. Stephens raised International Paper from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $50.00 to $60.00 in a report on Wednesday, January 23rd. Finally, Citigroup reaffirmed a “buy” rating and set a $53.00 price target on shares of International Paper in a report on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $53.00.
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About International Paper
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating Kraft.
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