International Assets Investment Management LLC Invests $6.67 Million in International Paper (NYSE:IP)

International Assets Investment Management LLC acquired a new stake in shares of International Paper (NYSE:IP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 184,566 shares of the basic materials company's stock, valued at approximately $6,672,000. International Assets Investment Management LLC owned 0.05% of International Paper at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in International Paper by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company's stock worth $2,391,000 after acquiring an additional 3,209 shares during the period. Raymond James Trust N.A. lifted its stake in shares of International Paper by 4.5% during the 1st quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company's stock valued at $399,000 after buying an additional 369 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its stake in shares of International Paper by 45.5% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company's stock valued at $31,000 after buying an additional 211 shares in the last quarter. Cibc World Market Inc. bought a new position in International Paper in the 1st quarter worth $206,000. Finally, Vontobel Holding Ltd. increased its stake in International Paper by 1.6% in the 1st quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company's stock worth $1,947,000 after buying an additional 676 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IP has been the topic of several research analyst reports. Truist Financial restated a "buy" rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday, March 20th. StockNews.com lowered shares of International Paper from a "buy" rating to a "hold" rating in a report on Sunday, January 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $43.00 target price on shares of International Paper in a report on Friday, February 2nd. Bank of America raised shares of International Paper from an "underperform" rating to a "buy" rating and raised their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Finally, Argus cut shares of International Paper from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $37.13.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 8,200 shares of company stock valued at $287,770. 0.55% of the stock is currently owned by insiders.

International Paper Price Performance

IP stock traded down $0.37 during trading on Monday, hitting $36.77. 3,535,896 shares of the company's stock traded hands, compared to its average volume of 4,567,087. International Paper has a 52 week low of $29.00 and a 52 week high of $41.28. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 44.84 and a beta of 0.99. The business has a fifty day simple moving average of $36.64 and a 200 day simple moving average of $35.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the firm earned $0.87 EPS. The firm's revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts expect that International Paper will post 1.88 EPS for the current fiscal year.

About International Paper

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.