GAMMA Investing LLC Has $145,000 Stock Holdings in International Paper (NYSE:IP)

GAMMA Investing LLC increased its position in shares of International Paper (NYSE:IP) by 51.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,971 shares of the basic materials company’s stock after buying an additional 1,015 shares during the quarter. GAMMA Investing LLC’s holdings in International Paper were worth $145,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank lifted its holdings in shares of International Paper by 6.9% in the 3rd quarter. Czech National Bank now owns 70,762 shares of the basic materials company’s stock worth $3,457,000 after purchasing an additional 4,575 shares in the last quarter. Bard Financial Services Inc. bought a new position in shares of International Paper in the third quarter valued at $305,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of International Paper by 20.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after buying an additional 239 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of International Paper during the second quarter valued at about $227,000. Finally, Bluefin Capital Management LLC bought a new stake in shares of International Paper during the second quarter worth about $227,000. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Up 2.5 %

Shares of IP stock opened at $48.19 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The firm has a market cap of $16.74 billion, a P/E ratio of 39.50 and a beta of 1.04. The company has a 50 day moving average of $47.66 and a 200-day moving average of $43.87. International Paper has a 12-month low of $31.76 and a 12-month high of $50.68.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the transaction, the director now owns 41,602 shares in the company, valued at $1,924,508.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.26, for a total transaction of $27,756.00. Following the sale, the director now owns 41,602 shares in the company, valued at $1,924,508.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of International Paper stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the transaction, the senior vice president now owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,440 shares of company stock worth $931,502. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent research reports. Truist Financial raised their target price on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Stifel Nicolaus started coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, August 14th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada upped their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Company 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.