Vontobel Holding Ltd. Sells 565 Shares of International Paper (NYSE:IP)

Vontobel Holding Ltd. reduced its holdings in shares of International Paper (NYSE:IP) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,982 shares of the basic materials company’s stock after selling 565 shares during the quarter. Vontobel Holding Ltd.’s holdings in International Paper were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IP. CWM LLC lifted its holdings in shares of International Paper by 61.9% during the third quarter. CWM LLC now owns 14,569 shares of the basic materials company’s stock valued at $517,000 after purchasing an additional 5,569 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of International Paper by 20.7% during the third quarter. Global Retirement Partners LLC now owns 8,055 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 1,384 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of International Paper by 421.1% during the third quarter. Exchange Traded Concepts LLC now owns 9,963 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 8,051 shares in the last quarter. Occidental Asset Management LLC lifted its holdings in shares of International Paper by 2.7% during the third quarter. Occidental Asset Management LLC now owns 35,676 shares of the basic materials company’s stock valued at $1,265,000 after purchasing an additional 933 shares in the last quarter. Finally, Welch Group LLC bought a new position in shares of International Paper during the third quarter valued at $206,000. 81.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IP has been the topic of a number of recent research reports. Argus downgraded International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Wells Fargo & Company lowered their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Truist Financial reissued a “buy” rating and issued a $40.00 target price on shares of International Paper in a report on Wednesday, April 17th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and increased their target price for the company from $37.00 to $42.00 in a report on Monday, March 4th. Finally, Citigroup raised International Paper from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, International Paper has a consensus rating of “Hold” and a consensus price target of $37.13.

International Paper Stock Down 1.7 %

NYSE IP opened at $34.76 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The stock’s 50-day moving average price is $36.72 and its 200-day moving average price is $35.84. The company has a market capitalization of $12.07 billion, a P/E ratio of 42.39 and a beta of 0.99.

International Paper (NYSE:IP) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. On average, equities research analysts predict that International Paper will post 1.91 earnings per share for the current year.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 8,800 shares of company stock worth $310,438. 0.55% of the stock is owned by corporate 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.