International Paper (NYSE:IP) Stock Holdings Trimmed by Greenleaf Trust

Greenleaf Trust lowered its holdings in shares of International Paper (NYSE:IP) by 38.0% during the 4th quarter, Holdings Channel reports. The fund owned 5,862 shares of the basic materials company’s stock after selling 3,589 shares during the period. Greenleaf Trust’s holdings in International Paper were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC acquired a new position in shares of International Paper during the 3rd quarter valued at $25,000. CVA Family Office LLC acquired a new position in shares of International Paper during the 4th quarter valued at $27,000. Venturi Wealth Management LLC increased its position in shares of International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 753 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of International Paper during the 4th quarter valued at $36,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of International Paper during the 3rd quarter valued at $39,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Argus cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Wells Fargo & Company decreased 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. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.13.

Insider Transactions at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction 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 sale, the senior vice president now owns 69,488 shares of the company’s stock, valued at $2,414,708. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 8,800 shares of company stock valued at $310,438 over the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of International Paper stock opened at $33.52 on Friday. The stock has a market cap of $11.64 billion, a PE ratio of 40.88 and a beta of 0.99. The business has a fifty day simple moving average of $36.68 and a 200-day simple moving average of $35.81. 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 12 month low of $29.00 and a 12 month high of $41.28.

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

About International Paper

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.