IRON Financial LLC Acquires New Position in International Paper (NYSE:IP)

IRON Financial LLC bought a new position in International Paper (NYSE:IP) in the 4th quarter, HoldingsChannel.com reports. The fund bought 3,798 shares of the basic materials company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IP. MBB Public Markets I LLC purchased a new position in shares of International Paper in the second quarter worth about $1,012,000. The Manufacturers Life Insurance Company increased its stake in International Paper by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 691,547 shares of the basic materials company’s stock worth $29,840,000 after purchasing an additional 34,872 shares during the period. Mackenzie Financial Corp lifted its position in International Paper by 4.7% in the second quarter. Mackenzie Financial Corp now owns 31,775 shares of the basic materials company’s stock valued at $1,371,000 after purchasing an additional 1,420 shares during the last quarter. Creative Planning boosted its stake in shares of International Paper by 6.1% during the second quarter. Creative Planning now owns 68,425 shares of the basic materials company’s stock valued at $2,953,000 after purchasing an additional 3,947 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of International Paper by 4.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,426 shares of the basic materials company’s stock worth $1,658,000 after purchasing an additional 1,490 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

International Paper stock opened at $59.27 on Tuesday. International Paper has a fifty-two week low of $32.70 and a fifty-two week high of $60.36. The stock’s 50 day simple moving average is $56.14 and its two-hundred day simple moving average is $51.24. 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 stock has a market cap of $20.59 billion, a price-to-earnings ratio of 50.66 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 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, analysts expect that International Paper will post 1.18 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the sale, the director now directly owns 37,145 shares of the company’s stock, valued at $2,168,896.55. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 1,800 shares of company stock valued at $100,848 in the last three months. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IP. 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 report on Friday, November 1st. BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research note on Wednesday, November 13th. Finally, Truist Financial increased their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.

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.