Mraz Amerine & Associates Inc. Decreases Stock Position in International Paper (NYSE:IP)

Mraz Amerine & Associates Inc. lowered its stake in International Paper (NYSE:IP) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,350 shares of the basic materials company’s stock after selling 300 shares during the period. Mraz Amerine & Associates Inc.’s holdings in International Paper were worth $302,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its stake in shares of International Paper by 5.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 30,596 shares of the basic materials company’s stock worth $1,106,000 after purchasing an additional 1,705 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of International Paper by 97.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 506,153 shares of the basic materials company’s stock worth $18,297,000 after purchasing an additional 249,804 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of International Paper by 263.1% in the fourth quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock worth $4,151,000 after purchasing an additional 83,203 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of International Paper in the fourth quarter worth about $756,000. Finally, Sapient Capital LLC bought a new stake in shares of International Paper in the fourth quarter worth about $1,461,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the topic of several research reports. Wells Fargo & Company cut their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and set a $40.00 price objective on shares of International Paper in a research report on Wednesday. Argus cut International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.13.

International Paper Stock Down 2.4 %

NYSE IP traded down $0.85 during mid-day trading on Wednesday, reaching $35.06. The stock had a trading volume of 6,257,954 shares, compared to its average volume of 4,646,304. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28. The stock has a market cap of $12.18 billion, a PE ratio of 43.05 and a beta of 0.99. The company has a fifty day moving average price of $36.70 and a 200 day moving average price of $35.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business earned $0.87 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts expect that International Paper will post 1.88 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 8,800 shares of company stock worth $310,438 in the last three months. 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.