International Paper Company $IP Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its holdings in shares of International Paper Company (NYSE:IP) by 61.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,111 shares of the basic materials company’s stock after selling 53,261 shares during the quarter. Daymark Wealth Partners LLC’s holdings in International Paper were worth $1,304,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in International Paper by 94.8% during the 4th quarter. SG Americas Securities LLC now owns 1,590,689 shares of the basic materials company’s stock valued at $62,657,000 after acquiring an additional 774,301 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in International Paper by 764.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 212,999 shares of the basic materials company’s stock worth $8,390,000 after purchasing an additional 188,357 shares in the last quarter. Old Port Advisors boosted its holdings in shares of International Paper by 2.3% during the 4th quarter. Old Port Advisors now owns 61,836 shares of the basic materials company’s stock worth $2,436,000 after purchasing an additional 1,362 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of International Paper by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 708,620 shares of the basic materials company’s stock worth $27,998,000 after purchasing an additional 124,973 shares during the last quarter. Finally, Tounjian Advisory Partners LLC grew its position in shares of International Paper by 7.1% in the fourth quarter. Tounjian Advisory Partners LLC now owns 22,556 shares of the basic materials company’s stock valued at $889,000 after purchasing an additional 1,488 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction dated Friday, January 30th. The stock was acquired at an average cost of $39.98 per share, for a total transaction of $1,999,000.00. Following the acquisition, the chief executive officer owned 50,000 shares in the company, valued at $1,999,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anders Gustafsson acquired 13,217 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $37.83 per share, with a total value of $499,999.11. Following the completion of the transaction, the director directly owned 26,092 shares in the company, valued at approximately $987,060.36. The trade was a 102.66% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 76,092 shares of company stock worth $2,999,064. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IP. Argus cut their price target on International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, December 22nd. UBS Group lowered International Paper from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $51.00 to $44.00 in a research note on Monday, February 2nd. Royal Bank Of Canada dropped their target price on International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, January 30th. Jefferies Financial Group raised their target price on International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and an average price target of $48.06.

International Paper Stock Up 0.8%

IP stock opened at $36.43 on Thursday. International Paper Company has a one year low of $33.57 and a one year high of $56.13. The firm has a market cap of $19.29 billion, a PE ratio of -5.43 and a beta of 1.09. The firm’s 50 day moving average price is $42.22 and its 200-day moving average price is $42.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.28.

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

About International Paper

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.