Forte Capital LLC ADV Acquires 12,709 Shares of International Paper (NYSE:IP)

Forte Capital LLC ADV lifted its stake in International Paper (NYSE:IP) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,559 shares of the basic materials company’s stock after buying an additional 12,709 shares during the period. Forte Capital LLC ADV’s holdings in International Paper were worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IP. Manchester Capital Management LLC acquired a new position in shares of International Paper during the third quarter worth $25,000. CVA Family Office LLC bought a new position in International Paper in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its position in International Paper by 2,281.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after buying an additional 753 shares during the period. Princeton Global Asset Management LLC acquired a new position in International Paper in the 4th quarter valued at approximately $36,000. Finally, First Command Advisory Services Inc. bought a new position in shares of International Paper during the third quarter valued at $39,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of NYSE IP traded up $0.47 during mid-day trading on Friday, hitting $36.28. The company had a trading volume of 5,818,438 shares, compared to its average volume of 6,977,804. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. International Paper has a 1 year low of $29.00 and a 1 year high of $41.28. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 74.04 and a beta of 1.01. The stock’s 50-day moving average price is $36.69 and its 200-day moving average price is $35.81.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. On average, sell-side analysts forecast that International Paper will post 1.88 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction of $201,550.00. Following the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 9,400 shares of company stock worth $331,402. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IP. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Citigroup raised International Paper from a “neutral” rating to a “buy” rating and increased their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Truist Financial reiterated a “buy” rating and issued a $40.00 target price on shares of International Paper in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company reduced their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Hold” and a consensus price target of $38.57.

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.