International Paper (NYSE:IP) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its holdings in International Paper (NYSE:IP) by 13.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 49,605 shares of the basic materials company’s stock after selling 7,465 shares during the quarter. New York Life Investment Management LLC’s holdings in International Paper were worth $1,793,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IP. Manchester Capital Management LLC acquired a new stake in International Paper in the 3rd quarter valued at $25,000. CVA Family Office LLC purchased a new position in International Paper in the 4th quarter valued at about $27,000. Venturi Wealth Management LLC boosted its holdings in 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 worth $28,000 after buying an additional 753 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of International Paper during the fourth quarter valued at approximately $36,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of International Paper in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 9,400 shares of company stock worth $331,402. 0.55% of the stock is currently owned by corporate insiders.

International Paper Price Performance

International Paper stock opened at $36.91 on Tuesday. The company’s 50 day moving average is $36.75 and its two-hundred day moving average is $35.84. The firm has a market cap of $12.82 billion, a PE ratio of 75.33 and a beta of 1.01. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.56 billion. During the same period in the prior year, the business earned $0.53 EPS. International Paper’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, research analysts expect that International Paper will post 1.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial restated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a report on Wednesday, April 17th. Wells Fargo & Company cut their price objective 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. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and increased their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. 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. Finally, Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, International Paper currently has an average rating of “Hold” and a consensus target price of $38.57.

International Paper Company 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.