First Trust Advisors LP Increases Position in International Paper (NYSE:IP)

First Trust Advisors LP grew its position in International Paper (NYSE:IP - Free Report) by 125.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 439,576 shares of the basic materials company's stock after buying an additional 244,875 shares during the period. First Trust Advisors LP owned 0.13% of International Paper worth $23,658,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Forum Financial Management LP boosted its stake in International Paper by 109.2% in the 4th quarter. Forum Financial Management LP now owns 11,429 shares of the basic materials company's stock worth $615,000 after purchasing an additional 5,965 shares in the last quarter. Front Street Capital Management Inc. acquired a new stake in International Paper in the 4th quarter worth approximately $723,000. Commerce Bank boosted its stake in International Paper by 2.6% in the 4th quarter. Commerce Bank now owns 18,396 shares of the basic materials company's stock worth $990,000 after purchasing an additional 464 shares in the last quarter. Arvest Bank Trust Division purchased a new position in International Paper during the 4th quarter worth approximately $2,261,000. Finally, CANADA LIFE ASSURANCE Co raised its position in International Paper by 6.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 403,824 shares of the basic materials company's stock worth $21,715,000 after buying an additional 25,037 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on IP. Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a "neutral" rating for the company. Citigroup assumed coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price 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 on the stock in a research note on Tuesday, April 22nd. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, International Paper currently has an average rating of "Moderate Buy" and a consensus price target of $54.77.

International Paper Price Performance

IP traded down $2.46 during trading on Wednesday, reaching $45.17. The company's stock had a trading volume of 5,802,323 shares, compared to its average volume of 8,378,829. 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 fifty day simple moving average of $50.61 and a two-hundred day simple moving average of $53.57. International Paper has a 1 year low of $34.54 and a 1 year high of $60.36. The company has a market cap of $23.84 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 0.39 and a beta of 0.99.

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 the consensus estimate of $0.35 by ($0.12). The firm 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%. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. As a group, analysts anticipate that International Paper will post 2.77 EPS for the current year.

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.