Patrick M Sweeney & Associates Inc. Acquires New Holdings in International Paper (NYSE:IP)

Patrick M Sweeney & Associates Inc. purchased a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,544 shares of the basic materials company’s stock, valued at approximately $309,000.

A number of other institutional investors have also made changes to their positions in IP. Manchester Capital Management LLC bought a new stake in International Paper in the 3rd quarter valued at $25,000. CVA Family Office LLC bought a new position in International Paper during the fourth quarter valued at about $27,000. Venturi Wealth Management LLC raised its holdings in International Paper by 2,281.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 753 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of International Paper in the 4th quarter worth approximately $36,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of International Paper during the 3rd quarter worth approximately $39,000. 81.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Paper

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

International Paper Price Performance

Shares of NYSE:IP traded up $1.92 during midday trading on Tuesday, reaching $38.84. The company’s stock had a trading volume of 28,854,045 shares, compared to its average volume of 5,380,797. The business’s fifty day simple moving average is $36.84 and its 200-day simple moving average is $35.88. The company has a market capitalization of $13.49 billion, a P/E ratio of 79.27 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.30.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts expect that International Paper will post 1.88 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Truist Financial restated a “buy” rating and set a $40.00 target price on shares of International Paper in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, International Paper currently has an average rating of “Hold” and an average target price of $38.57.

International Paper Company 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.