Wealth Enhancement Advisory Services LLC Buys 284 Shares of International Paper (NYSE:IP)

Wealth Enhancement Advisory Services LLC raised its stake in shares of International Paper (NYSE:IP) by 0.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 140,511 shares of the basic materials company’s stock after purchasing an additional 284 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in International Paper were worth $7,562,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IP. FMR LLC lifted its position in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after acquiring an additional 99,720 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of International Paper by 125.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after acquiring an additional 9,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after buying an additional 537,825 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,800 shares of company stock valued at $100,848. 0.55% of the stock is currently owned by insiders.

International Paper Trading Down 0.4 %

Shares of NYSE IP opened at $53.85 on Tuesday. The business’s 50 day moving average is $56.17 and its two-hundred day moving average is $50.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The stock has a market capitalization of $18.71 billion, a P/E ratio of 46.03 and a beta of 1.03.

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