Foundations Investment Advisors LLC Decreases Position in International Paper Company $IP

Foundations Investment Advisors LLC lessened its position in International Paper Company (NYSE:IP) by 62.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,316 shares of the basic materials company’s stock after selling 12,016 shares during the period. Foundations Investment Advisors LLC’s holdings in International Paper were worth $339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IP. Gentry Private Wealth LLC lifted its position in International Paper by 2.1% in the 2nd quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock valued at $438,000 after acquiring an additional 188 shares in the last quarter. Wellington Shields Capital Management LLC increased its holdings in shares of International Paper by 7.0% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 226 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its stake in shares of International Paper by 3.8% in the second quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 245 shares during the last quarter. Blue Trust Inc. boosted its position in shares of International Paper by 10.1% during the second quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after buying an additional 259 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in International Paper by 1.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock worth $736,000 after buying an additional 263 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Argus dropped their target price on shares of International Paper from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Royal Bank Of Canada cut their target price on shares of International Paper from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday. Truist Financial lowered their price target on International Paper from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Stifel Nicolaus set a $57.80 price target on International Paper and gave the stock a “buy” rating in a research note on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.89.

Insider Activity

In other news, CEO Andrew K. Silvernail bought 50,000 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were bought at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the purchase, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,999,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Clay R. Ellis sold 18,819 shares of International Paper stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is owned by company insiders.

International Paper Trading Up 3.2%

Shares of International Paper stock opened at $42.01 on Wednesday. International Paper Company has a 1-year low of $35.56 and a 1-year high of $57.55. The company’s fifty day simple moving average is $40.35 and its 200-day simple moving average is $43.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. The stock has a market capitalization of $22.18 billion, a PE ratio of -6.26, a P/E/G ratio of 0.49 and a beta of 1.11.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.The company’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.