International Paper (NYSE:IP) Shares Purchased by abrdn plc

abrdn plc increased its holdings in shares of International Paper (NYSE:IP) by 70.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 145,218 shares of the basic materials company’s stock after buying an additional 59,902 shares during the period. abrdn plc’s holdings in International Paper were worth $5,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Manchester Capital Management LLC acquired a new stake in shares of International Paper in the third quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in shares of International Paper in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC increased its stake in shares of International Paper by 2,281.8% in the third 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 stake in shares of International Paper in the fourth quarter valued at approximately $36,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of International Paper in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling

In related 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 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 directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 8,800 shares of company stock worth $310,438. Corporate insiders own 0.55% of the company’s stock.

International Paper Trading Up 0.9 %

Shares of NYSE:IP opened at $33.83 on Friday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 69.04 and a beta of 0.99. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.19 and a current ratio of 1.68. The company has a 50 day moving average price of $36.64 and a 200 day moving average price of $35.81.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. On average, research analysts anticipate that International Paper will post 1.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on IP. Truist Financial restated a “buy” rating and issued a $40.00 price target on shares of International Paper in a research note on Wednesday, April 17th. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and raised their price objective for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Wells Fargo & Company lowered their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Finally, Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.13.

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.