SG Americas Securities LLC Cuts Position in International Paper (NYSE:IP)

SG Americas Securities LLC reduced its position in shares of International Paper (NYSE:IP) by 44.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,814 shares of the basic materials company’s stock after selling 18,136 shares during the period. SG Americas Securities LLC’s holdings in International Paper were worth $1,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Daymark Wealth Partners LLC boosted its holdings in International Paper by 6.5% during the 4th quarter. Daymark Wealth Partners LLC now owns 82,943 shares of the basic materials company’s stock valued at $4,464,000 after acquiring an additional 5,073 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of International Paper by 7.4% in the fourth quarter. Atomi Financial Group Inc. now owns 8,874 shares of the basic materials company’s stock valued at $478,000 after purchasing an additional 615 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of International Paper by 3.4% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 49,562 shares of the basic materials company’s stock valued at $2,667,000 after purchasing an additional 1,629 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in International Paper during the 4th quarter worth approximately $205,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock worth $86,000 after buying an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 1.4 %

IP opened at $59.27 on Tuesday. The business’s 50-day simple moving average is $56.14 and its 200-day simple moving average is $51.24. The company has a market cap of $20.59 billion, a P/E ratio of 50.66 and a beta of 1.03. International Paper has a one year low of $32.70 and a one year high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that International Paper will post 1.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now directly owns 37,745 shares of the company’s stock, valued at $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 1,800 shares of company stock valued at $100,848 over the last ninety days. Insiders own 0.55% of the company’s stock.

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.