Wedmont Private Capital Takes Position in International Paper (NYSE:IP)

Wedmont Private Capital bought a new stake in shares of International Paper (NYSE:IP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,955 shares of the basic materials company’s stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IP. Brooklyn Investment Group bought a new stake in shares of International Paper during the 3rd quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in International Paper during the 3rd quarter worth $28,000. Ashton Thomas Securities LLC bought a new stake in International Paper during the third quarter valued at about $28,000. Versant Capital Management Inc increased its stake in shares of International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the period. Finally, City State Bank lifted its position in shares of International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IP. Truist Financial lifted their price target on International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada boosted their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research note 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.99.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the sale, the director now owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 1,800 shares of company stock valued at $100,848. Corporate insiders own 0.55% of the company’s stock.

International Paper Stock Up 0.4 %

IP opened at $55.64 on Thursday. The company has a market capitalization of $19.33 billion, a P/E ratio of 47.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The firm’s fifty day moving average price is $56.12 and its two-hundred day moving average price is $50.42. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. On average, analysts anticipate that International Paper will post 1.18 EPS for the current year.

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.