Steph & Co. Cuts Stock Holdings in International Paper (NYSE:IP)

Steph & Co. lessened its holdings in International Paper (NYSE:IP) by 44.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,584 shares of the basic materials company’s stock after selling 2,870 shares during the quarter. Steph & Co.’s holdings in International Paper were worth $193,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IP. Brooklyn Investment Group acquired a new position in International Paper during the third quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in shares of International Paper during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in International Paper during the 3rd quarter valued at about $28,000. Versant Capital Management Inc raised its position in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares during the last quarter. Finally, City State Bank lifted its holdings in shares of International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

International Paper stock opened at $55.64 on Thursday. International Paper has a 1 year low of $32.70 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The firm has a 50 day moving average price of $56.12 and a 200 day moving average price of $50.42. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 47.56 and a beta of 1.03.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the company earned $0.64 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts predict that International Paper will post 1.18 earnings per share for the current year.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the transaction, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,800 shares of company stock worth $100,848 in the last three months. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IP. Truist Financial upped their target price on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $51.99.

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.