International Paper (NYSE:IP) Stock Position Raised by Forte Capital LLC ADV

Forte Capital LLC ADV boosted its stake in shares of International Paper (NYSE:IP) by 31.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,559 shares of the basic materials company’s stock after purchasing an additional 12,709 shares during the period. Forte Capital LLC ADV’s holdings in International Paper were worth $1,936,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in IP. Pathstone Family Office LLC acquired a new position in International Paper in the third quarter valued at approximately $1,164,000. StrategIQ Financial Group LLC bought a new stake in International Paper in the 4th quarter valued at $2,271,000. Metis Global Partners LLC increased its stake in shares of International Paper by 6.7% during the third quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after purchasing an additional 1,376 shares during the period. SteelPeak Wealth LLC boosted its stake in shares of International Paper by 40.5% in the third quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock valued at $743,000 after buying an additional 6,033 shares during the period. Finally, Mackenzie Financial Corp raised its position in International Paper by 263.1% during the fourth quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock valued at $4,151,000 after purchasing an additional 83,203 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IP. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Wells Fargo & Company dropped their target price 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. Truist Financial reaffirmed a “buy” rating and set a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. Finally, Citigroup raised International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.57.

International Paper Stock Up 1.3 %

Shares of NYSE:IP traded up $0.47 during midday trading on Friday, reaching $36.28. The company’s stock had a trading volume of 5,818,438 shares, compared to its average volume of 6,977,804. 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 firm has a 50 day moving average of $36.69 and a 200-day moving average of $35.81. The firm has a market capitalization of $12.60 billion, a P/E ratio of 74.04 and a beta of 1.01. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28.

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

Insider Activity

In other 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 transaction of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 9,400 shares of company stock valued at $331,402 in the last quarter. 0.55% of the stock is currently owned by insiders.

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.