Independent Advisor Alliance Trims Holdings in International Paper Company $IP

Independent Advisor Alliance trimmed its stake in shares of International Paper Company (NYSE:IP) by 66.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,506 shares of the basic materials company’s stock after selling 14,731 shares during the quarter. Independent Advisor Alliance’s holdings in International Paper were worth $348,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of International Paper during the 1st quarter valued at $249,000. Intech Investment Management LLC boosted its stake in International Paper by 100.5% during the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after buying an additional 16,055 shares during the period. Ameritas Advisory Services LLC purchased a new position in International Paper during the second quarter worth about $50,000. DAVENPORT & Co LLC grew its position in International Paper by 22.7% during the second quarter. DAVENPORT & Co LLC now owns 13,157 shares of the basic materials company’s stock worth $616,000 after buying an additional 2,435 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in International Paper by 2.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 15,349 shares of the basic materials company’s stock worth $719,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other news, CEO Andrew K. Silvernail bought 50,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were purchased at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the acquisition, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The SEC filing for this sale provides additional information. Corporate insiders own 0.35% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $44.32 on Friday. The company has a 50-day simple moving average of $40.56 and a two-hundred day simple moving average of $43.86. International Paper Company has a 12-month low of $35.56 and a 12-month high of $57.55. The firm has a market cap of $23.40 billion, a price-to-earnings ratio of -6.61, a PEG ratio of 0.54 and a beta of 1.11. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.60.

International Paper (NYSE:IP) last released its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the firm posted ($0.02) EPS. The company’s revenue was up 53.1% on a year-over-year basis. On average, equities analysts forecast that International Paper Company will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IP. Truist Financial cut their price objective on International Paper from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, January 30th. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Citigroup raised their price objective on shares of International Paper from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. Finally, Stifel Nicolaus set a $57.80 price target on International Paper and gave the company a “buy” rating in a research report on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Paper currently has an average rating of “Hold” and a consensus price target of $48.89.

International Paper 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.