Xponance Inc. Trims Stake in International Paper (NYSE:IP)

Xponance Inc. lowered its stake in shares of International Paper (NYSE:IP) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,370 shares of the basic materials company’s stock after selling 3,725 shares during the quarter. Xponance Inc.’s holdings in International Paper were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Greenhaven Associates Inc. increased its position in shares of International Paper by 0.3% during the fourth quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after buying an additional 25,640 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in International Paper by 13.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after purchasing an additional 1,011,315 shares during the period. Mizuho Markets Americas LLC purchased a new stake in International Paper in the third quarter worth about $144,509,000. Northern Trust Corp grew its holdings in International Paper by 4.4% in the third quarter. Northern Trust Corp now owns 3,615,609 shares of the basic materials company’s stock worth $128,246,000 after purchasing an additional 151,084 shares during the period. Finally, AQR Capital Management LLC grew its holdings in International Paper by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after purchasing an additional 777,273 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

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 shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 8,800 shares of company stock valued at $310,438. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IP. Wells Fargo & Company cut their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Truist Financial restated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Finally, Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, International Paper presently has an average rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Performance

Shares of NYSE IP opened at $34.41 on Wednesday. The firm has a fifty day moving average price of $36.72 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. The stock has a market cap of $11.95 billion, a PE ratio of 41.96 and a beta of 0.99. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28.

International Paper (NYSE:IP) last announced 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. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 earnings per share. Equities analysts anticipate that International Paper will post 1.91 earnings per share for the current fiscal 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.