Handelsbanken Fonder AB Lowers Position in International Paper (NYSE:IP)

Handelsbanken Fonder AB cut its stake in International Paper (NYSE:IP) by 16.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,369 shares of the basic materials company’s stock after selling 2,783 shares during the period. Handelsbanken Fonder AB’s holdings in International Paper were worth $702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IP. Innealta Capital LLC purchased a new position in shares of International Paper during the second quarter valued at approximately $26,000. MCF Advisors LLC lifted its holdings in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of International Paper during the first quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of International Paper during the second quarter valued at approximately $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of International Paper during the fourth quarter valued at approximately $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Up 2.5 %

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

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

Wall Street Analyst Weigh In

IP has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Truist Financial boosted their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Three investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the sale, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.68, for a total transaction of $26,208.00. Following the sale, the director now owns 42,202 shares in the company, valued at $1,843,383.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,440 shares of company stock valued at $931,502. Company 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.