International Assets Investment Management LLC Takes $6.67 Million Position in International Paper (NYSE:IP)

International Assets Investment Management LLC purchased a new stake in shares of International Paper (NYSE:IP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 184,566 shares of the basic materials company’s stock, valued at approximately $6,672,000. International Assets Investment Management LLC owned approximately 0.05% of International Paper at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IP. Manchester Capital Management LLC purchased a new stake in shares of International Paper during the third quarter valued at $25,000. CVA Family Office LLC purchased a new stake in shares of International Paper during the fourth quarter valued at $27,000. Venturi Wealth Management LLC boosted its position in shares of International Paper by 2,281.8% during 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 during the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of International Paper during the fourth quarter valued at $36,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of International Paper during the third quarter valued at $39,000. 81.95% of the stock is currently owned by institutional investors.

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 9,400 shares of company stock valued at $331,402. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Argus cut International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and raised their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Wells Fargo & Company dropped their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.57.

International Paper Price Performance

Shares of International Paper stock opened at $38.84 on Wednesday. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 79.27 and a beta of 1.01. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $36.84 and its 200-day simple moving average is $35.88. International Paper has a 52 week low of $29.00 and a 52 week high of $41.30.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, analysts expect that International Paper will post 1.88 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.