Fiduciary Group LLC Buys Shares of 7,269 International Paper (NYSE:IP)

Fiduciary Group LLC bought a new stake in shares of International Paper (NYSE:IP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,269 shares of the basic materials company’s stock, valued at approximately $263,000.

Several other large investors have also modified their holdings of IP. Greenhaven Associates Inc. boosted its holdings in shares of International Paper by 0.3% in the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after purchasing an additional 25,640 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Paper by 13.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after purchasing an additional 1,011,315 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of International Paper in the third quarter valued at approximately $144,509,000. Northern Trust Corp boosted its holdings in shares of International Paper by 4.4% in the third quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock valued at $128,246,000 after purchasing an additional 151,084 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock valued at $105,035,000 after purchasing an additional 777,273 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of 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. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. Truist Financial reissued a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research note on Wednesday, April 17th. Finally, Bank of America raised shares of 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 note on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.13.

International Paper Trading Up 4.5 %

IP stock opened at $35.34 on Tuesday. The company’s 50-day simple moving average is $36.63 and its 200-day simple moving average is $35.81. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28. The firm has a market cap of $12.27 billion, a P/E ratio of 72.12 and a beta of 0.99.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, equities analysts forecast that International Paper will post 1.9 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other International Paper 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 sale, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 8,800 shares of company stock worth $310,438. Insiders own 0.55% of the company’s stock.

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.