International Paper (NYSE:IP) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC cut its holdings in shares of International Paper (NYSE:IP) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,395 shares of the basic materials company’s stock after selling 785 shares during the period. IVC Wealth Advisors LLC’s holdings in International Paper were worth $344,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of International Paper by 3.3% in the second quarter. Envestnet Asset Management Inc. now owns 223,829 shares of the basic materials company’s stock worth $9,658,000 after purchasing an additional 7,068 shares in the last quarter. Intech Investment Management LLC bought a new position in International Paper in the 2nd quarter valued at about $317,000. Gabelli Funds LLC increased its stake in International Paper by 27.3% during the 2nd quarter. Gabelli Funds LLC now owns 7,000 shares of the basic materials company’s stock valued at $302,000 after buying an additional 1,500 shares during the period. EverSource Wealth Advisors LLC increased its stake in International Paper by 408.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,034 shares of the basic materials company’s stock valued at $234,000 after buying an additional 4,044 shares during the period. Finally, Evergreen Capital Management LLC raised its position in shares of International Paper by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 15,404 shares of the basic materials company’s stock worth $665,000 after buying an additional 420 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

Shares of NYSE IP opened at $58.55 on Friday. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 50.04 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $56.05 and its 200 day simple moving average is $50.95.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) 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 firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that International Paper will post 1.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now directly owns 37,745 shares in the company, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,800 shares of company stock worth $100,848. 0.55% of the stock is owned by corporate insiders.

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.