Wesbanco Bank Inc. Has $1.06 Million Position in International Paper (NYSE:IP)

Wesbanco Bank Inc. trimmed its holdings in shares of International Paper (NYSE:IP) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,777 shares of the basic materials company’s stock after selling 575 shares during the period. Wesbanco Bank Inc.’s holdings in International Paper were worth $1,064,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of International Paper during the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new stake in International Paper during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in International Paper in the third quarter valued at $28,000. Versant Capital Management Inc lifted its stake in International Paper by 313.3% in the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 448 shares during the last quarter. Finally, City State Bank grew its position in shares of International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

International Paper stock opened at $58.55 on Friday. The stock’s fifty day moving average price is $56.05 and its two-hundred day moving average price is $50.95. The firm has a market cap of $20.34 billion, a PE ratio of 50.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a one year low of $32.70 and a one year high of $60.36.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the completion of the transaction, the director now owns 37,745 shares of the company’s stock, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,800 shares of company stock valued at $100,848. Company insiders own 0.55% of the company’s stock.

International Paper Profile

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.