Allspring Global Investments Holdings LLC Sells 4,207 Shares of International Paper (NYSE:IP)

Allspring Global Investments Holdings LLC lowered its stake in International Paper (NYSE:IP) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 27,364 shares of the basic materials company’s stock after selling 4,207 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Paper were worth $989,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. HBK Sorce Advisory LLC bought a new stake in shares of International Paper during the 4th quarter valued at $240,000. International Assets Investment Management LLC bought a new stake in shares of International Paper during the 4th quarter valued at $6,672,000. Pinion Investment Advisors LLC boosted its holdings in shares of International Paper by 1.9% during the 4th quarter. Pinion Investment Advisors LLC now owns 19,506 shares of the basic materials company’s stock valued at $705,000 after buying an additional 361 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of International Paper by 2.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 151,450 shares of the basic materials company’s stock valued at $5,475,000 after buying an additional 2,948 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its holdings in shares of International Paper by 41.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 14,195 shares of the basic materials company’s stock valued at $513,000 after buying an additional 4,193 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 8,800 shares of company stock valued at $310,438. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on IP shares. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Truist Financial reaffirmed a “buy” rating and issued a $40.00 price target on shares of International Paper in a research report on Wednesday, April 17th. Finally, Bank of America raised International Paper from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.13.

International Paper Price Performance

Shares of NYSE:IP opened at $34.41 on Wednesday. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The business has a 50-day simple moving average of $36.72 and a two-hundred day simple moving average of $35.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 41.96 and a beta of 0.99.

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