Federated Hermes Inc. Purchases 272,727 Shares of International Paper (NYSE:IP)

Federated Hermes Inc. grew its position in shares of International Paper (NYSE:IPFree Report) by 22,689.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,929 shares of the basic materials company’s stock after acquiring an additional 272,727 shares during the quarter. Federated Hermes Inc. owned about 0.08% of International Paper worth $9,903,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IP. Manchester Capital Management LLC bought a new stake in International Paper during the 3rd quarter valued at $25,000. CVA Family Office LLC bought a new stake in shares of International Paper during the fourth quarter worth about $27,000. Venturi Wealth Management LLC raised its holdings in shares of 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 worth $28,000 after acquiring an additional 753 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of International Paper in the 4th quarter worth about $36,000. Finally, First Command Advisory Services Inc. bought a new position in International Paper in the 3rd quarter valued at about $39,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IP. Wells Fargo & Company lowered their price objective on International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Truist Financial reissued a “buy” rating and issued a $40.00 price target on shares of International Paper in a research report on Wednesday, April 17th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. 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. Finally, StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.13.

Check Out Our Latest Stock Report on International Paper

International Paper Price Performance

IP opened at $34.41 on Wednesday. International Paper has a fifty-two week low of $29.00 and a fifty-two week high of $41.28. The firm has a 50-day moving average of $36.72 and a 200 day moving average of $35.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. The firm has a market cap of $11.95 billion, a P/E ratio of 41.96 and a beta of 0.99.

International Paper (NYSE:IPGet Free Report) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm earned $0.87 EPS. The company’s revenue was down 10.4% compared to the same quarter last year. On average, research analysts expect that International Paper will post 1.91 EPS for the current year.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was 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 in the company, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 8,800 shares of company stock valued at $310,438. Company insiders own 0.55% of the company’s stock.

International Paper Profile

(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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