Ameriprise Financial Inc. Sells 44,177 Shares of International Paper (NYSE:IP)

Ameriprise Financial Inc. reduced its stake in shares of International Paper (NYSE:IP - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,132,104 shares of the basic materials company's stock after selling 44,177 shares during the quarter. Ameriprise Financial Inc. owned 0.61% of International Paper worth $114,751,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sierra Ocean LLC bought a new stake in International Paper in the fourth quarter valued at $26,000. Centricity Wealth Management LLC bought a new stake in International Paper during the 4th quarter worth approximately $26,000. Picton Mahoney Asset Management boosted its stake in International Paper by 67.0% in 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 in the last quarter. Versant Capital Management Inc raised 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 valued at $32,000 after buying an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC increased 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 acquiring an additional 295 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IP has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Bank of America assumed coverage on International Paper in a research note on Thursday, February 13th. They set a "neutral" rating for the company. JPMorgan Chase & Co. started coverage on International Paper in a research note on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price on the stock. Wells Fargo & Company restated an "underweight" rating and set a $40.00 target price (down from $45.00) on shares of International Paper in a research report on Friday. Finally, Truist Financial reduced their price objective 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. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $54.21.

International Paper Stock Up 0.5%

NYSE:IP traded up $0.26 during trading hours on Tuesday, reaching $48.17. 1,879,755 shares of the stock were exchanged, compared to its average volume of 8,075,978. The stock has a market cap of $25.43 billion, a PE ratio of 30.68, a PEG ratio of 0.39 and a beta of 1.03. International Paper has a twelve month low of $39.13 and a twelve month high of $60.36. The firm has a 50 day moving average of $48.83 and a 200 day moving average of $53.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08.

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 analysts' consensus estimates of $0.35 by ($0.12). The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, equities analysts expect that International Paper will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company's stock.

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.