19,669 Shares in International Paper (NYSE:IP) Acquired by Bastion Asset Management Inc.

Bastion Asset Management Inc. acquired a new stake in International Paper (NYSE:IP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,669 shares of the basic materials company’s stock, valued at approximately $1,060,000.

Several other large investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of International Paper by 4.5% in the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company’s stock valued at $44,774,000 after buying an additional 39,404 shares in the last quarter. World Investment Advisors LLC increased its stake in shares of International Paper by 6.1% in the 3rd quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company’s stock valued at $449,000 after purchasing an additional 529 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of International Paper during the 3rd quarter worth $614,000. Principal Financial Group Inc. lifted its position in shares of International Paper by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 417,851 shares of the basic materials company’s stock worth $20,412,000 after buying an additional 10,632 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE:IP opened at $45.83 on Friday. International Paper has a 1-year low of $35.76 and a 1-year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The business has a 50 day moving average of $49.99 and a 200 day moving average of $53.51. The company has a market capitalization of $24.19 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period last year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IP. Wells Fargo & Company decreased their target price on shares of International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price target on the stock. Truist Financial lowered their price objective on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. Finally, StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.77.

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.