Cwm LLC Purchases 3,046 Shares of International Paper (NYSE:IP)

Cwm LLC grew its position in shares of International Paper (NYSE:IP) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,615 shares of the basic materials company’s stock after purchasing an additional 3,046 shares during the period. Cwm LLC’s holdings in International Paper were worth $637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC purchased a new position in shares of International Paper during the 3rd quarter valued at about $25,000. CVA Family Office LLC bought a new stake in shares of International Paper in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC boosted its stake in shares of International Paper by 2,281.8% in 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 in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of International Paper during the 4th quarter valued at $36,000. Finally, First Command Advisory Services Inc. purchased a new position in International Paper in the 3rd quarter worth $39,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Up 4.5 %

Shares of International Paper stock opened at $35.34 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28. The company has a market cap of $12.27 billion, a P/E ratio of 72.12 and a beta of 0.99. The company’s fifty day simple moving average is $36.63 and its two-hundred day simple moving average is $35.81.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. International Paper’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts anticipate that International Paper will post 1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IP shares. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Truist Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, April 17th. 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. Wells Fargo & Company lowered their price target on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Finally, Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, International Paper has an average rating of “Hold” and a consensus price target of $37.13.

Insiders Place Their Bets

In other 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 value 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 SEC, which is available at the SEC website. In the last quarter, insiders have sold 8,800 shares of company stock worth $310,438. Company insiders own 0.55% of the company’s stock.

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.