Wealth Enhancement Advisory Services LLC Sells 523,433 Shares of International Paper Company $IP

Wealth Enhancement Advisory Services LLC decreased its position in shares of International Paper Company (NYSE:IP) by 85.0% in the 3rd quarter, Holdings Channel reports. The firm owned 92,273 shares of the basic materials company’s stock after selling 523,433 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in International Paper were worth $4,239,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AlphaQuest LLC raised its stake in International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after buying an additional 634 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in International Paper in the second quarter valued at approximately $33,000. Elevation Point Wealth Partners LLC bought a new stake in shares of International Paper during the second quarter valued at approximately $35,000. CYBER HORNET ETFs LLC acquired a new position in shares of International Paper during the second quarter worth approximately $43,000. Finally, City Holding Co. acquired a new stake in International Paper in the 3rd quarter valued at $46,000. 81.95% of the stock is owned by institutional investors.

International Paper Price Performance

Shares of NYSE:IP opened at $43.09 on Tuesday. The company has a market capitalization of $22.75 billion, a P/E ratio of -16.51, a price-to-earnings-growth ratio of 0.50 and a beta of 1.10. The company’s 50-day moving average is $39.90 and its 200 day moving average is $44.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31. International Paper Company has a fifty-two week low of $35.56 and a fifty-two week high of $60.14.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the prior year, the firm posted $0.33 EPS. The business’s revenue was up 56.4% on a year-over-year basis. On average, equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Argus dropped their price objective on shares of International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. BNP Paribas Exane raised shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, November 24th. Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Wells Fargo & Company dropped their target price on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, October 31st. Finally, UBS Group cut their target price on International Paper from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.07.

Insiders Place Their Bets

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.55% of the company’s stock.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.