Mitchell Mcleod Pugh & Williams Inc. Makes New Investment in International Paper (NYSE:IP)

Mitchell Mcleod Pugh & Williams Inc. bought a new stake in International Paper (NYSE:IP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,818 shares of the basic materials company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in International Paper by 14.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares in the last quarter. Client 1ST Advisory Group LLC acquired a new stake in shares of International Paper during the fourth quarter worth $257,000. Artemis Investment Management LLP lifted its holdings in International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after acquiring an additional 1,202,632 shares during the last quarter. HB Wealth Management LLC boosted its position in International Paper by 30.1% during the 4th quarter. HB Wealth Management LLC now owns 7,330 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 1,698 shares during the period. Finally, Trust Co. of Vermont grew its position in shares of International Paper by 33.7% during the fourth quarter. Trust Co. of Vermont now owns 2,155 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IP shares. Truist Financial lifted their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada boosted 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. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $58.39, for a total transaction of $35,034.00. Following the transaction, the director now owns 37,145 shares in the company, valued at $2,168,896.55. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,800 shares of company stock valued at $100,848 in the last 90 days. 0.55% of the stock is owned by company insiders.

International Paper Stock Up 1.2 %

Shares of IP opened at $56.94 on Tuesday. The business’s 50 day simple moving average is $56.01 and its 200-day simple moving average is $50.69. International Paper has a one year low of $32.70 and a one year high of $60.36. The company has a market capitalization of $19.78 billion, a P/E ratio of 48.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The business had revenue of $4.69 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. As a group, sell-side analysts predict that International Paper will post 1.18 EPS for the current fiscal 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.