One68 Global Capital LLC Takes Position in International Paper (NYSE:IP)

One68 Global Capital LLC acquired a new position in shares of International Paper (NYSE:IP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,133 shares of the basic materials company's stock, valued at approximately $545,000.

A number of other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of International Paper by 28.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock worth $1,794,000 after purchasing an additional 7,424 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in International Paper during the 3rd quarter worth $24,327,000. Wedmont Private Capital acquired a new position in International Paper during the 4th quarter worth $376,000. Everence Capital Management Inc. bought a new position in International Paper in the 4th quarter valued at $828,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of International Paper by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock valued at $46,686,000 after buying an additional 15,904 shares during the period. Institutional investors own 81.95% of the company's stock.

International Paper Trading Up 4.4 %

International Paper stock traded up $1.94 during mid-day trading on Friday, hitting $45.83. 3,782,095 shares of the company's stock were exchanged, compared to its average volume of 8,360,531. The company's 50 day simple moving average is $49.99 and its 200-day simple moving average is $53.47. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $24.19 billion, a P/E ratio of 29.19, a PEG ratio of 0.39 and a beta of 0.99. International Paper has a fifty-two week low of $35.76 and a fifty-two week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the business earned $0.17 EPS. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on IP shares. StockNews.com lowered International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Wells Fargo & Company lowered their price target on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Truist Financial cut their price objective on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. Finally, Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Paper currently has an average rating of "Moderate Buy" and an average price target of $54.77.

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.