Handelsbanken Fonder AB Trims Stake in International Paper (NYSE:IP)

Handelsbanken Fonder AB reduced its position in International Paper (NYSE:IP) by 55.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,093 shares of the basic materials company’s stock after selling 100,711 shares during the quarter. Handelsbanken Fonder AB’s holdings in International Paper were worth $2,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of International Paper by 37.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 295 shares during the period. Allworth Financial LP increased its position in shares of International Paper by 4.7% during the third quarter. Allworth Financial LP now owns 6,849 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 306 shares during the period. XML Financial LLC increased its position in shares of International Paper by 0.4% during the third quarter. XML Financial LLC now owns 87,859 shares of the basic materials company’s stock worth $3,116,000 after acquiring an additional 312 shares during the period. Parkside Financial Bank & Trust increased its position in shares of International Paper by 19.8% during the third quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 314 shares during the period. Finally, Pinion Investment Advisors LLC increased its position in shares of International Paper by 1.9% during the fourth quarter. Pinion Investment Advisors LLC now owns 19,506 shares of the basic materials company’s stock worth $705,000 after acquiring an additional 361 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IP has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Truist Financial reiterated a “buy” rating and set a $40.00 price objective on shares of International Paper in a research note on Wednesday, April 17th. Wells Fargo & Company dropped 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 research note on Friday, February 2nd. Finally, Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Up 0.9 %

IP opened at $33.83 on Friday. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The company has a fifty day moving average of $36.64 and a two-hundred day moving average of $35.80. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 41.26 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the previous year, the firm posted $0.53 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. On average, research analysts expect that International Paper will post 1.91 earnings per share for the current year.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now 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 can be accessed through this link. Over the last quarter, insiders sold 8,800 shares of company stock valued at $310,438. Corporate insiders own 0.55% of the company’s stock.

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.