Beryl Capital Management LLC Buys New Stake in International Paper (NYSE:IP)

Beryl Capital Management LLC bought a new position in International Paper (NYSE:IP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 103,062 shares of the basic materials company's stock, valued at approximately $5,547,000. International Paper makes up 1.3% of Beryl Capital Management LLC's portfolio, making the stock its 13th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in IP. Sierra Ocean LLC bought a new stake in shares of International Paper in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper during the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management boosted its stake 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 valued at $29,000 after purchasing an additional 215 shares during the period. Versant Capital Management Inc grew its holdings in shares of International Paper by 313.3% in 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 last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of International Paper by 90.2% in the fourth quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company's stock worth $33,000 after buying an additional 295 shares during the period. Institutional investors own 81.95% of the company's stock.

Wall Street Analyst Weigh In

IP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price target on the stock. Truist Financial decreased their price target on shares of International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Bank of America initiated coverage on International Paper in a report on Thursday, February 13th. They issued a "neutral" rating for the company. Citigroup started coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price on the stock. Finally, StockNews.com cut shares of International Paper from a "hold" rating to a "sell" rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.77.

Insider Activity at International Paper

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at $1,413,896.25. This trade represents a 19.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

International Paper Stock Performance

IP traded down $0.62 during trading on Wednesday, hitting $43.83. The company's stock had a trading volume of 4,343,671 shares, compared to its average volume of 8,260,124. International Paper has a one year low of $38.10 and a one year high of $60.36. The business's 50 day simple moving average is $49.52 and its 200-day simple moving average is $53.48. 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 cap of $23.14 billion, a PE ratio of 27.92, a P/E/G ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper's revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, sell-side analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

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.