Beacon Pointe Advisors LLC Has $11.04 Million Position in International Paper (NYSE:IP)

Beacon Pointe Advisors LLC lifted its holdings in shares of International Paper (NYSE:IP) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,076 shares of the basic materials company’s stock after purchasing an additional 1,951 shares during the quarter. Beacon Pointe Advisors LLC owned 0.06% of International Paper worth $11,037,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sierra Ocean LLC acquired a new stake in shares of International Paper during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper during the fourth quarter worth about $26,000. Picton Mahoney Asset Management raised its position in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 215 shares during the period. Versant Capital Management Inc raised its position in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 448 shares during the period. Finally, Venturi Wealth Management LLC raised its position in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after buying an additional 295 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial dropped their target price on International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on International Paper from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 target price on the stock. StockNews.com lowered International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.77.

International Paper Stock Performance

Shares of NYSE IP opened at $47.43 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a 12 month low of $34.18 and a 12 month high of $60.36. The stock has a 50 day moving average of $50.78 and a 200-day moving average of $53.61. The company has a market capitalization of $25.04 billion, a P/E ratio of 30.21, a P/E/G ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts predict that International Paper will post 2.77 EPS for the current year.

About International Paper

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.