Cerity Partners LLC Has $6.22 Million Position in International Paper (NYSE:IP)

Cerity Partners LLC lifted its position in shares of International Paper (NYSE:IP - Free Report) by 1,323.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,005 shares of the basic materials company's stock after acquiring an additional 159,923 shares during the quarter. Cerity Partners LLC's holdings in International Paper were worth $6,218,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new stake in International Paper in the 4th quarter valued at approximately $310,000. Tobam purchased a new stake in International Paper in the 4th quarter valued at approximately $56,000. HBK Sorce Advisory LLC purchased a new stake in International Paper in the 4th quarter valued at approximately $240,000. International Assets Investment Management LLC purchased a new stake in International Paper in the 4th quarter valued at approximately $6,672,000. Finally, Pinion Investment Advisors LLC lifted its stake in International Paper by 1.9% in the 4th quarter. Pinion Investment Advisors LLC now owns 19,506 shares of the basic materials company's stock valued at $705,000 after buying an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Buying and Selling

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 8,800 shares of company stock valued at $310,438 over the last quarter. Corporate insiders own 0.55% of the company's stock.

International Paper Stock Performance

Shares of NYSE:IP traded down $0.87 during trading hours on Tuesday, hitting $35.91. The stock had a trading volume of 8,615,436 shares, compared to its average volume of 4,621,582. The stock's fifty day simple moving average is $36.70 and its 200 day simple moving average is $35.84. International Paper has a 1-year low of $29.00 and a 1-year high of $41.28. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 43.79 and a beta of 0.99. 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 posted its quarterly earnings data 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 business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the business earned $0.87 earnings per share. The business's revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts anticipate that International Paper will post 1.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price target on International Paper from $39.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, February 2nd. Bank of America upgraded International Paper from an "underperform" rating to a "buy" rating and increased their price target for the company from $37.00 to $42.00 in a report on Monday, March 4th. Truist Financial reiterated a "buy" rating and issued a $40.00 price target on shares of International Paper in a report on Wednesday, March 20th. StockNews.com downgraded International Paper from a "buy" rating to a "hold" rating in a report on Sunday, January 14th. Finally, Argus downgraded International Paper from a "buy" rating to a "hold" rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, International Paper presently has an average rating of "Hold" and an average target price of $37.13.

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.