Metis Global Partners LLC Has $1.11 Million Position in International Paper (NYSE:IP)

Metis Global Partners LLC increased its holdings in shares of International Paper (NYSE:IP) by 40.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 30,659 shares of the basic materials company’s stock after acquiring an additional 8,835 shares during the quarter. Metis Global Partners LLC’s holdings in International Paper were worth $1,108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IP. Venturi Wealth Management LLC lifted its position in shares of International Paper by 37.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,081 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 295 shares during the period. Allworth Financial LP boosted its position in International Paper by 4.7% during the third quarter. Allworth Financial LP now owns 6,849 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 306 shares during the last quarter. XML Financial LLC grew its holdings in International Paper by 0.4% during the 3rd quarter. XML Financial LLC now owns 87,859 shares of the basic materials company’s stock worth $3,116,000 after acquiring an additional 312 shares during the period. Parkside Financial Bank & Trust raised its position in shares of International Paper by 19.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,900 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 314 shares in the last quarter. Finally, Pinion Investment Advisors LLC lifted its stake in shares of International Paper by 1.9% in the 4th quarter. Pinion Investment Advisors LLC now owns 19,506 shares of the basic materials company’s stock valued at $705,000 after purchasing an additional 361 shares during the period. 81.95% of the stock is owned by institutional investors.

International Paper Stock Up 1.1 %

Shares of NYSE IP opened at $39.28 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. The company has a 50-day moving average price of $36.84 and a 200-day moving average price of $35.88. The stock has a market capitalization of $13.64 billion, a P/E ratio of 80.16 and a beta of 1.01. International Paper has a 1 year low of $29.00 and a 1 year high of $41.30.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on IP. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $46.00 in a report on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. Truist Financial restated a “buy” rating and issued a $40.00 price target on shares of International Paper in a report on Wednesday, April 17th. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and upped their price objective for the company from $37.00 to $42.00 in a report on Monday, March 4th. Finally, StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.57.

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 shares were 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 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 the SEC website. Over the last 90 days, insiders sold 9,400 shares of company stock worth $331,402. 0.55% of the stock is owned by corporate insiders.

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.