Paradigm Financial Partners LLC Sells 3,935 Shares of International Paper (NYSE:IP)

Paradigm Financial Partners LLC lessened its stake in shares of International Paper (NYSE:IP) by 9.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 36,723 shares of the basic materials company’s stock after selling 3,935 shares during the period. Paradigm Financial Partners LLC’s holdings in International Paper were worth $1,328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IP. Manchester Capital Management LLC bought a new position in International Paper during the 3rd quarter valued at approximately $25,000. CVA Family Office LLC bought a new stake in shares of International Paper in the 4th quarter worth $27,000. Venturi Wealth Management LLC increased its holdings in shares of International Paper by 2,281.8% in the 3rd 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 in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of International Paper in the 4th quarter worth $36,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of International Paper in the 3rd quarter worth $39,000. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE IP traded up $0.31 on Friday, hitting $33.83. 6,735,103 shares of the company traded hands, compared to its average volume of 6,058,422. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 69.04 and a beta of 0.99. The company has a current ratio of 1.68, a quick ratio of 1.19 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average price is $36.64 and its 200-day moving average price is $35.81. International Paper has a 52-week low of $29.00 and a 52-week high of $41.28.

International Paper (NYSE:IP) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The company had revenue of $4.62 billion for 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%. International Paper’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Equities analysts expect that International Paper will post 1.9 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on IP shares. Wells Fargo & Company reduced their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price target on shares of International Paper in a research note on Friday, February 2nd. Truist Financial restated a “buy” rating and issued a $40.00 price target on shares of International Paper in a research note on Wednesday, April 17th. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and raised their price target for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, International Paper currently has a consensus rating of “Hold” and a consensus target price of $37.13.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 8,800 shares of company stock worth $310,438. Corporate insiders own 0.55% 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.