Kestra Private Wealth Services LLC Has $608,000 Position in International Paper (NYSE:IP)

Kestra Private Wealth Services LLC cut its stake in International Paper (NYSE:IP) by 10.2% during the fourth quarter, HoldingsChannel reports. The fund owned 16,805 shares of the basic materials company’s stock after selling 1,919 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in International Paper were worth $608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IP. Manchester Capital Management LLC bought a new stake in International Paper in the third quarter worth approximately $25,000. CVA Family Office LLC bought a new stake in International Paper in the fourth quarter worth $27,000. Venturi Wealth Management LLC increased its position in International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after buying an additional 753 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in International Paper during the fourth quarter valued at about $36,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of International Paper in the third quarter worth about $39,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction 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 transaction, 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 9,400 shares of company stock valued at $331,402 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. 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. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. Truist Financial reiterated a “buy” rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Wells Fargo & Company decreased their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Finally, Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Hold” and an average price target of $38.57.

International Paper Price Performance

Shares of IP stock opened at $36.28 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The stock’s fifty day simple moving average is $36.69 and its 200 day simple moving average is $35.82. International Paper has a one year low of $29.00 and a one year high of $41.28. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 74.04 and a beta of 1.01.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the prior year, the company posted $0.53 earnings per share. International Paper’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts expect that International Paper will post 1.88 earnings per share for the current fiscal 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.