FCG Investment Co Buys 699 Shares of International Paper (NYSE:IP)

FCG Investment Co grew its stake in International Paper (NYSE:IP) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,666 shares of the basic materials company’s stock after purchasing an additional 699 shares during the period. FCG Investment Co’s holdings in International Paper were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IP. FMR LLC boosted its position in International Paper by 88.4% in the third 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. Geode Capital Management LLC boosted its holdings in shares of International Paper by 1.2% during 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 acquiring an additional 99,720 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position 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 acquiring an additional 2,354,341 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 9,774 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in International Paper by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock worth $161,006,000 after purchasing an additional 537,825 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now owns 38,345 shares in the company, valued at $2,051,457.50. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,800 shares of company stock worth $100,848 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on IP shares. Truist Financial boosted their price target on International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 6th. BNP Paribas downgraded 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 report on Wednesday, November 13th. Finally, Royal Bank of Canada upped 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.99.

International Paper Trading Up 0.6 %

NYSE:IP opened at $58.55 on Friday. International Paper has a 52 week low of $32.70 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The firm’s fifty day moving average is $56.05 and its 200-day moving average is $50.95. The firm has a market cap of $20.34 billion, a P/E ratio of 50.04 and a beta of 1.03.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts expect that International Paper will post 1.18 earnings per share for the current 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.