International Paper (NYSE:IP) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC reduced its position in International Paper (NYSE:IP - Free Report) by 69.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,609 shares of the basic materials company's stock after selling 79,899 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in International Paper were worth $1,916,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in shares of International Paper during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in International Paper during the 4th quarter worth $26,000. Picton Mahoney Asset Management increased its stake in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after buying an additional 215 shares during the period. Versant Capital Management Inc raised its position in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company's stock worth $32,000 after acquiring an additional 448 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted 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 acquiring an additional 295 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Price Performance

Shares of IP traded down $1.75 during trading hours on Thursday, reaching $43.93. 6,193,802 shares of the stock traded hands, compared to its average volume of 8,416,324. The company has a market cap of $23.19 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. International Paper has a 52-week low of $35.13 and a 52-week high of $60.36. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The company's 50-day moving average price is $50.40 and its two-hundred day moving average price is $53.52.

International Paper (NYSE:IP - Get Free Report) last announced 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 net margin of 2.99% and a return on equity of 4.75%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the company posted $0.17 earnings per share. International Paper's quarterly revenue was up 27.8% on a year-over-year basis. On average, analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. StockNews.com downgraded International Paper from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They set a "neutral" rating for the company. Truist Financial reduced 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 report on Tuesday, April 22nd. Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Paper presently has a consensus rating of "Moderate Buy" and a consensus target price 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.