First Financial Bankshares Inc Takes $612,000 Position in International Paper Company $IP

First Financial Bankshares Inc acquired a new position in shares of International Paper Company (NYSE:IP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 13,191 shares of the basic materials company’s stock, valued at approximately $612,000.

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

Insider Buying and Selling

In related news, CEO Andrew K. Silvernail acquired 50,000 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were purchased at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IP shares. BNP Paribas Exane upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Monday, November 24th. Wells Fargo & Company upgraded International Paper from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $36.00 to $40.00 in a report on Friday, January 30th. UBS Group cut International Paper from a “buy” rating to a “neutral” rating and reduced their price target for the company from $51.00 to $44.00 in a research report on Monday, February 2nd. Truist Financial lowered their price target on International Paper from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Jefferies Financial Group upped their price objective on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Hold” and an average target price of $48.25.

International Paper Price Performance

Shares of NYSE IP opened at $43.96 on Wednesday. The business’s 50 day moving average price is $42.85 and its two-hundred day moving average price is $43.49. The company has a market cap of $23.21 billion, a PE ratio of -6.55 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 Company has a twelve month low of $35.56 and a twelve month high of $57.07.

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