NewSquare Capital LLC Has $6.23 Million Stock Position in International Paper (NYSE:IP)

NewSquare Capital LLC grew its stake in shares of International Paper (NYSE:IP) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 174,709 shares of the basic materials company’s stock after buying an additional 3,671 shares during the quarter. NewSquare Capital LLC owned approximately 0.05% of International Paper worth $6,233,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pathstone Family Office LLC acquired a new position in International Paper in the 3rd quarter worth about $1,164,000. StrategIQ Financial Group LLC acquired a new stake in International Paper during the 4th quarter worth approximately $2,271,000. Metis Global Partners LLC grew its holdings in International Paper by 6.7% during the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after acquiring an additional 1,376 shares during the last quarter. SteelPeak Wealth LLC increased its position in International Paper by 40.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock valued at $743,000 after acquiring an additional 6,033 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of International Paper by 263.1% during 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 period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 8,800 shares of company stock valued at $310,438. 0.55% of the stock is owned by insiders.

International Paper Stock Down 1.0 %

Shares of IP stock traded down $0.35 on Tuesday, hitting $34.41. The stock had a trading volume of 6,731,920 shares, compared to its average volume of 4,842,995. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.67 and a quick ratio of 1.19. The business has a 50 day moving average of $36.72 and a 200 day moving average of $35.84. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 41.96 and a beta of 0.99.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) 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 business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, analysts expect that International Paper will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IP. Wells Fargo & Company decreased their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their price objective for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Truist Financial reissued a “buy” rating and issued a $40.00 price target on shares of International Paper in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.13.

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.