Beacon Pointe Advisors LLC Has $11.04 Million Position in International Paper (NYSE:IP)

Beacon Pointe Advisors LLC grew its stake in International Paper (NYSE:IP) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,076 shares of the basic materials company’s stock after purchasing an additional 1,951 shares during the period. Beacon Pointe Advisors LLC’s holdings in International Paper were worth $11,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in International Paper by 28.7% during the 4th quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock worth $1,794,000 after buying an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new stake in International Paper during the 3rd quarter worth approximately $24,327,000. Wedmont Private Capital acquired a new stake in International Paper during the 4th quarter worth approximately $376,000. Everence Capital Management Inc. acquired a new stake in International Paper during the 4th quarter worth approximately $828,000. Finally, Allspring Global Investments Holdings LLC boosted its position in International Paper by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after buying an additional 15,904 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Truist Financial dropped their price target on shares of International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.77.

International Paper Stock Performance

NYSE:IP opened at $47.43 on Tuesday. The company has a fifty day moving average of $50.78 and a 200-day moving average of $53.61. The firm has a market capitalization of $25.04 billion, a P/E ratio of 30.21, a P/E/G ratio of 0.39 and a beta of 0.99. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a twelve month low of $34.18 and a twelve month high of $60.36.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current year.

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.