GoalVest Advisory LLC Sells 1,447 Shares of International Paper (NYSE:IP)

GoalVest Advisory LLC lowered its position in shares of International Paper (NYSE:IP) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,288 shares of the basic materials company’s stock after selling 1,447 shares during the quarter. GoalVest Advisory LLC’s holdings in International Paper were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of International Paper during the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper in the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the third quarter valued at $28,000. Versant Capital Management Inc raised its stake in shares of International Paper by 313.3% during the 4th 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 period. Finally, City State Bank boosted its stake in International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 37,745 shares in the company, valued at $2,120,891.55. This represents a 1.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have sold 1,800 shares of company stock valued at $100,848. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

International Paper Stock Down 0.3 %

Shares of NYSE:IP opened at $58.29 on Thursday. International Paper has a 12-month low of $32.70 and a 12-month high of $60.36. The stock has a market capitalization of $20.25 billion, a price-to-earnings ratio of 49.82 and a beta of 1.03. The stock has a fifty day simple moving average of $56.02 and a two-hundred day simple moving average of $50.89. 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 (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. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. International Paper’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that International Paper will post 1.18 earnings per share for the current fiscal 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.