Arkadios Wealth Advisors Reduces Stock Holdings in International Paper (NYSE:IP)

Arkadios Wealth Advisors reduced its position in International Paper (NYSE:IP) by 14.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,366 shares of the basic materials company’s stock after selling 4,744 shares during the quarter. Arkadios Wealth Advisors’ holdings in International Paper were worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of IP. FMR LLC grew its stake in International Paper by 88.4% in the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of International Paper by 511.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after purchasing an additional 2,484,386 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the period. Samlyn Capital LLC bought a new position in International Paper in the 2nd quarter worth about $88,966,000. Finally, Ceredex Value Advisors LLC purchased a new position in International Paper during the 3rd quarter valued at about $84,526,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 6th. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their price target on shares of 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 issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.99.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now directly owns 38,345 shares in the company, valued at $2,051,457.50. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 1,800 shares of company stock valued at $100,848 over the last quarter. 0.55% of the stock is owned by corporate insiders.

International Paper Stock Performance

NYSE IP opened at $56.94 on Monday. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The company has a fifty day moving average of $56.01 and a 200-day moving average of $50.69. The company has a market capitalization of $19.78 billion, a P/E ratio of 48.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, 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.