City State Bank Boosts Stock Position in International Paper (NYSE:IP)

City State Bank boosted its holdings in International Paper (NYSE:IP) by 107.7% during the 4th quarter, Holdings Channel reports. The firm owned 675 shares of the basic materials company’s stock after acquiring an additional 350 shares during the period. City State Bank’s holdings in International Paper were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new position in International Paper in the third quarter worth $24,327,000. Aptus Capital Advisors LLC lifted its position in shares of International Paper by 15.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after buying an additional 785 shares during the last quarter. Curi RMB Capital LLC purchased a new position in shares of International Paper during the 3rd quarter valued at $4,870,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of International Paper by 5.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock valued at $45,788,000 after buying an additional 49,125 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of International Paper during the 4th quarter valued at $828,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada upped their price target on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research report on Wednesday, November 13th. Finally, Truist Financial upped their price target on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.

International Paper Stock Performance

Shares of IP opened at $53.85 on Tuesday. The stock’s 50-day simple moving average is $56.17 and its 200 day simple moving average is $50.33. The stock 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 debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The business 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 quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. Research analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the sale, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 1,800 shares of company stock worth $100,848. 0.55% of the stock is currently owned by insiders.

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.