8,500 Shares in International Paper (NYSE:IP) Acquired by Fractal Investments LLC

Fractal Investments LLC purchased a new position in shares of International Paper (NYSE:IP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,500 shares of the basic materials company’s stock, valued at approximately $307,000.

Other hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC bought a new position in shares of International Paper during the 3rd quarter worth approximately $25,000. CVA Family Office LLC bought a new position in shares of International Paper in the fourth quarter valued at $27,000. Venturi Wealth Management LLC grew its stake in shares of International Paper by 2,281.8% in the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after buying an additional 753 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of International Paper in the fourth quarter valued at $36,000. Finally, First Command Advisory Services Inc. bought a new position in shares of International Paper in the third quarter valued at $39,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

Shares of IP traded up $0.02 during midday trading on Wednesday, reaching $34.43. 8,135,417 shares of the stock were exchanged, compared to its average volume of 4,885,861. International Paper has a twelve month low of $29.00 and a twelve month high of $41.28. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. The company has a market cap of $11.96 billion, a P/E ratio of 41.99 and a beta of 0.99. The stock’s 50 day simple moving average is $36.71 and its 200 day simple moving average is $35.83.

International Paper (NYSE:IP) last posted its earnings results 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 return on equity of 8.87% and a net margin of 1.52%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts expect that International Paper will post 1.91 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 8,800 shares of company stock worth $310,438. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IP shares. Truist Financial reissued a “buy” rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and raised their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Citigroup raised International Paper from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.13.

About International Paper

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.