International Paper (NYSE:IP) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its position in International Paper (NYSE:IPFree Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,253 shares of the basic materials company’s stock after acquiring an additional 662 shares during the quarter. Verdence Capital Advisors LLC’s holdings in International Paper were worth $841,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pathstone Family Office LLC acquired a new stake in shares of International Paper in the third quarter valued at about $1,164,000. StrategIQ Financial Group LLC purchased a new position in International Paper in the 4th quarter worth approximately $2,271,000. Metis Global Partners LLC boosted its holdings in shares of International Paper by 6.7% during the 3rd quarter. Metis Global Partners LLC now owns 21,824 shares of the basic materials company’s stock worth $774,000 after purchasing an additional 1,376 shares during the last quarter. SteelPeak Wealth LLC grew its position in shares of International Paper by 40.5% in the third quarter. SteelPeak Wealth LLC now owns 20,935 shares of the basic materials company’s stock valued at $743,000 after purchasing an additional 6,033 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of International Paper by 70.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 207,329 shares of the basic materials company’s stock valued at $7,495,000 after purchasing an additional 85,429 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IP has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a report on Monday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price target on shares of International Paper in a report on Friday, February 2nd. Argus cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.13.

Check Out Our Latest Research Report on International Paper

International Paper Stock Performance

NYSE:IP opened at $35.37 on Monday. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 43.13 and a beta of 0.99. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The company has a fifty day simple moving average of $36.73 and a two-hundred day simple moving average of $35.84.

International Paper (NYSE:IPGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. International Paper’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 EPS. As a group, equities analysts anticipate that International Paper will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the sale, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at approximately $2,414,708. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold 8,800 shares of company stock worth $310,438 over the last 90 days. 0.55% of the stock is owned by insiders.

About International Paper

(Free Report)

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.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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