Kwmg LLC Has $7.01 Million Holdings in International Paper (NYSE:IP)

Kwmg LLC decreased its stake in International Paper (NYSE:IP) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 130,181 shares of the basic materials company’s stock after selling 9,165 shares during the quarter. Kwmg LLC’s holdings in International Paper were worth $7,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of IP. FMR LLC lifted its holdings in International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC grew its position in shares of International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after purchasing an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. increased its stake in 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 worth $206,921,000 after purchasing an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in International Paper by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after buying an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after buying an additional 537,825 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 2,400 shares of company stock worth $129,696. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of a number of research analyst reports. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective on the stock. in a report on Wednesday, November 13th. Truist Financial boosted their price target on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada upped their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.99.

International Paper Stock Down 0.4 %

Shares of International Paper stock traded down $0.24 on Monday, reaching $53.85. 2,831,266 shares of the company were exchanged, compared to its average volume of 3,694,373. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 46.03 and a beta of 1.03. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. International Paper has a one year low of $32.70 and a one year high of $60.36. The company has a 50-day moving average of $56.22 and a 200 day moving average of $50.26.

International Paper (NYSE:IP) last posted 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 for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that International Paper will post 1.18 earnings per share for the current year.

International Paper 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.