Cherry Tree Wealth Management LLC Lowers Stock Position in International Paper (NYSE:IP)

Cherry Tree Wealth Management LLC lowered its stake in shares of International Paper (NYSE:IP) by 33.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,000 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Cherry Tree Wealth Management LLC’s holdings in International Paper were worth $72,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new position in International Paper during the third quarter valued at about $25,000. CVA Family Office LLC bought a new position in International Paper during the fourth quarter worth about $27,000. Venturi Wealth Management LLC boosted its position in International Paper by 2,281.8% during the third quarter. Venturi Wealth Management LLC now owns 786 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 753 shares during the period. Princeton Global Asset Management LLC bought a new position in International Paper during the fourth quarter worth about $36,000. Finally, First Command Advisory Services Inc. bought a new position in International Paper during the third quarter worth about $39,000. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and increased their target price for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Truist Financial reiterated a “buy” rating and set a $40.00 target price on shares of International Paper in a research report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research report on Friday, February 2nd. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Finally, Wells Fargo & Company cut their price objective on shares of International Paper from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.57.

Insider Activity at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s 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 sale, the senior vice president now directly owns 69,488 shares of the company’s stock, valued at $2,414,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,400 shares of company stock valued at $331,402 over the last three months. 0.55% of the stock is owned by corporate insiders.

International Paper Price Performance

IP traded up $1.92 on Tuesday, reaching $38.84. The company had a trading volume of 28,854,045 shares, compared to its average volume of 5,380,797. The business has a 50 day simple moving average of $36.84 and a 200 day simple moving average of $35.88. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 79.27 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. International Paper has a 52-week low of $29.00 and a 52-week high of $41.30.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts anticipate that International Paper will post 1.88 EPS 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.