Mitchell & Pahl Private Wealth LLC Has $2.67 Million Stock Position in International Paper (NYSE:IP)

Mitchell & Pahl Private Wealth LLC raised its stake in International Paper (NYSE:IP) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,562 shares of the basic materials company’s stock after acquiring an additional 1,629 shares during the quarter. International Paper comprises 1.2% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 19th largest position. Mitchell & Pahl Private Wealth LLC’s holdings in International Paper were worth $2,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of International Paper during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new position in International Paper in the 3rd quarter valued at $28,000. Ashton Thomas Securities LLC bought a new position in International Paper during the 3rd quarter worth $28,000. Versant Capital Management Inc lifted its holdings in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares in the last quarter. Finally, City State Bank boosted its position in shares of International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the sale, the director now owns 37,745 shares in the company, valued at $2,120,891.55. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 1,800 shares of company stock worth $100,848 in the last ninety days. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on IP shares. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Royal Bank of Canada increased their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial lifted their price target on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.

International Paper Price Performance

Shares of NYSE:IP opened at $56.94 on Tuesday. The firm has a 50 day moving average of $56.01 and a 200-day moving average of $50.69. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.78 billion, a PE ratio of 48.67 and a beta of 1.03.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. On average, equities research analysts predict that International Paper will post 1.18 EPS 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.