International Paper Company $IP Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its position in International Paper Company (NYSE:IP) by 155.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 41,928 shares of the basic materials company’s stock after buying an additional 25,538 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in International Paper were worth $1,945,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC increased its stake in shares of International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in International Paper in the 2nd quarter valued at approximately $33,000. Elevation Point Wealth Partners LLC acquired a new position in International Paper during the 2nd quarter worth approximately $35,000. CYBER HORNET ETFs LLC acquired a new position in International Paper during the 2nd quarter worth approximately $43,000. Finally, City Holding Co. purchased a new position in shares of International Paper during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on International Paper from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Monday. Jefferies Financial Group decreased their target price on shares of International Paper from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Argus cut their price target on shares of International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Citigroup reduced their price objective on shares of International Paper from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Royal Bank Of Canada set a $55.00 price objective on shares of International Paper and gave the stock an “outperform” rating in a report on Thursday, December 18th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.65.

Insider Activity

In related news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $36.85, for a total value of $693,480.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by corporate insiders.

International Paper Trading Up 1.8%

NYSE:IP opened at $43.63 on Friday. International Paper Company has a 52-week low of $35.56 and a 52-week high of $60.15. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $39.21 and a 200-day simple moving average of $44.74. The company has a market capitalization of $23.04 billion, a PE ratio of -16.72, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The business’s revenue was up 56.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. On average, equities research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.