M&T Bank Corp Trims Stake in International Paper (NYSE:IP)

M&T Bank Corp reduced its stake in International Paper (NYSE:IP) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,753 shares of the basic materials company’s stock after selling 4,866 shares during the quarter. M&T Bank Corp’s holdings in International Paper were worth $2,413,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IP. Mizuho Markets Americas LLC bought a new position in International Paper in the 3rd quarter worth $144,509,000. Acadian Asset Management LLC raised its holdings in International Paper by 208.0% in the 3rd quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock worth $57,129,000 after purchasing an additional 1,087,933 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in International Paper by 13.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock worth $312,553,000 after purchasing an additional 1,011,315 shares during the period. AQR Capital Management LLC raised its holdings in International Paper by 35.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,961,232 shares of the basic materials company’s stock worth $105,035,000 after purchasing an additional 777,273 shares during the period. Finally, Atlas FRM LLC raised its holdings in International Paper by 30.0% in the 3rd quarter. Atlas FRM LLC now owns 2,600,000 shares of the basic materials company’s stock worth $92,222,000 after purchasing an additional 600,000 shares during the period. 81.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IP shares. 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. Argus cut International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and raised their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Truist Financial reissued a “buy” rating and set a $40.00 price target on shares of International Paper in a report on Wednesday, April 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.57.

Insider Transactions at International Paper

In other news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 9,400 shares of company stock valued at $331,402. 0.55% of the stock is currently owned by insiders.

International Paper Price Performance

NYSE:IP opened at $39.28 on Thursday. International Paper has a 52 week low of $29.00 and a 52 week high of $41.30. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $36.84 and its two-hundred day simple moving average is $35.88. The stock has a market cap of $13.64 billion, a PE ratio of 80.16 and a beta of 1.01.

International Paper (NYSE:IP) last issued its 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 return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts forecast that International Paper will post 1.88 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.