PDT Partners LLC Acquires Shares of 6,000 International Paper (NYSE:IP)

PDT Partners LLC purchased a new position in shares of International Paper (NYSE:IP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,000 shares of the basic materials company's stock, valued at approximately $323,000.

A number of other hedge funds have also recently added to or reduced their stakes in IP. SPC Financial Inc. raised its stake in shares of International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company's stock valued at $759,000 after buying an additional 200 shares during the period. AlphaMark Advisors LLC boosted its stake in International Paper by 5.7% in the 4th quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company's stock worth $205,000 after purchasing an additional 204 shares during the period. Inspire Advisors LLC lifted its stake in International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company's stock worth $665,000 after purchasing an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in International Paper by 14.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 205 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in shares of International Paper by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company's stock valued at $820,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. Truist Financial decreased their target price on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com downgraded International Paper from a "hold" rating to a "sell" rating in a report on Monday. 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. Finally, Wells Fargo & Company decreased their target price on shares of International Paper from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.77.

International Paper Trading Up 0.5 %

IP stock traded up $0.21 during trading on Tuesday, reaching $44.48. The company had a trading volume of 5,344,092 shares, compared to its average volume of 8,305,598. 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 has a 52 week low of $36.88 and a 52 week high of $60.36. The company has a market cap of $23.48 billion, a P/E ratio of 28.33, a PEG ratio of 0.39 and a beta of 1.03. The business has a 50 day moving average of $49.76 and a 200 day moving average of $53.54.

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 (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.38 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. International Paper's revenue for the quarter was up 27.8% on a year-over-year basis. As a group, sell-side analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer now directly owns 31,525 shares of the company's stock, valued at $1,413,896.25. This represents a 19.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.