Atlas FRM LLC Has $180.30 Million Stock Position in International Paper (NYSE:IP)

Atlas FRM LLC cut its position in International Paper (NYSE:IP - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,350,000 shares of the basic materials company's stock after selling 50,000 shares during the quarter. International Paper makes up 17.0% of Atlas FRM LLC's investment portfolio, making the stock its 2nd biggest holding. Atlas FRM LLC owned about 0.96% of International Paper worth $180,297,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IP. Barclays PLC raised its stake in shares of International Paper by 4.5% during the 3rd quarter. Barclays PLC now owns 916,599 shares of the basic materials company's stock worth $44,774,000 after buying an additional 39,404 shares in the last quarter. Bard Financial Services Inc. purchased a new position in International Paper in the 3rd quarter valued at about $305,000. World Investment Advisors LLC grew its holdings in shares of International Paper by 6.1% during the third quarter. World Investment Advisors LLC now owns 9,191 shares of the basic materials company's stock worth $449,000 after buying an additional 529 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of International Paper during the 3rd quarter worth about $614,000. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of International Paper in the third quarter worth approximately $895,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on IP. Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a "buy" rating and a $60.00 price target on the stock. StockNews.com lowered International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial reduced their price target on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. assumed coverage on International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.77.

International Paper Trading Up 4.4 %

IP stock traded up $1.94 during mid-day trading on Friday, reaching $45.83. 3,782,095 shares of the stock traded hands, compared to its average volume of 8,360,531. The stock's fifty day moving average is $49.99 and its 200-day moving average is $53.51. The company has a market cap of $24.19 billion, a P/E ratio of 29.19, a P/E/G ratio of 0.39 and a beta of 1.03. 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 52-week low of $35.76 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted 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). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. As a group, sell-side analysts expect that International Paper will post 2.77 earnings per share for the current 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.