Avanza Fonder AB Takes Position in International Paper (NYSE:IP)

Avanza Fonder AB bought a new position in International Paper (NYSE:IP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 36,594 shares of the basic materials company’s stock, valued at approximately $1,969,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of International Paper by 88.4% in the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after purchasing an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC boosted its holdings in International Paper by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after buying an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. increased its stake in International Paper by 125.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after buying an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in International Paper by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock valued at $174,867,000 after acquiring an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after acquiring an additional 537,825 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

International Paper stock opened at $56.94 on Friday. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $56.01 and its 200 day moving average is $50.64. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 48.67 and a beta of 1.03.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Sell-side analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the sale, the director now directly owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,800 shares of company stock worth $100,848. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IP has been the topic of several recent analyst reports. Truist Financial lifted their target price on International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Moderate Buy” and an average target price of $51.99.

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.