Seed Wealth Management Inc. Takes Position in International Paper (NYSE:IP)

Seed Wealth Management Inc. purchased a new stake in International Paper (NYSE:IP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,855 shares of the basic materials company’s stock, valued at approximately $207,000.

Several other hedge funds also recently added to or reduced their stakes in IP. FMR LLC grew its stake in International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after buying an additional 8,370,273 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of International Paper in the second quarter valued at approximately $119,012,000. Point72 Asset Management L.P. grew its position in shares of International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after acquiring an additional 2,484,386 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after acquiring an additional 2,354,341 shares during the period. Finally, Samlyn Capital LLC acquired a new position in International Paper in the second quarter valued at $88,966,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 37,745 shares in the company, valued at $2,120,891.55. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,800 shares of company stock worth $100,848 in the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.4 %

Shares of IP stock opened at $53.85 on Tuesday. 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 1-year low of $32.70 and a 1-year high of $60.36. The firm has a market capitalization of $18.71 billion, a PE ratio of 46.03 and a beta of 1.03. The business’s fifty day moving average price is $56.17 and its 200 day moving average price is $50.33.

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

Analysts Set New Price Targets

IP has been the topic of a number of research reports. Royal Bank of Canada raised their price target on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial lifted 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. Finally, BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus target price 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.