3,990 Shares in International Paper (NYSE:IP) Bought by Red Door Wealth Management LLC

Red Door Wealth Management LLC bought a new position in International Paper (NYSE:IP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,990 shares of the basic materials company’s stock, valued at approximately $215,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of International Paper during the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in International Paper during the 3rd quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper during the 3rd quarter worth approximately $28,000. Versant Capital Management Inc raised its holdings in shares of International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the last quarter. Finally, City State Bank lifted 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 worth $36,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,800 shares of company stock valued at $100,848 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

Shares of NYSE IP opened at $60.08 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $56.09 and its two-hundred day moving average price is $51.00. The company has a market cap of $20.87 billion, a PE ratio of 51.35 and a beta of 1.03. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that International Paper will post 1.18 EPS for the current year.

Wall Street Analyst Weigh In

IP has been the subject of a number of analyst reports. Truist Financial raised their target price 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. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Finally, Royal Bank of Canada increased their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.99.

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.