GoalVest Advisory LLC Sells 1,447 Shares of International Paper (NYSE:IP)

GoalVest Advisory LLC trimmed its position in International Paper (NYSE:IP) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,288 shares of the basic materials company’s stock after selling 1,447 shares during the quarter. GoalVest Advisory LLC’s holdings in International Paper were worth $1,469,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IP. Brooklyn Investment Group acquired a new stake in International Paper in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of International Paper in the 3rd quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper during the 3rd quarter valued at $28,000. Versant Capital Management Inc grew its position in International Paper by 313.3% during the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 448 shares during the last quarter. Finally, City State Bank increased its holdings in International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 350 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 0.3 %

Shares of NYSE:IP opened at $58.29 on Thursday. The firm has a market cap of $20.25 billion, a P/E ratio of 49.82 and a beta of 1.03. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The business’s 50 day simple moving average is $56.02 and its two-hundred day simple moving average is $50.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm posted $0.64 EPS. International Paper’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares in the company, valued at $2,168,896.55. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,800 shares of company stock valued at $100,848 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on IP shares. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Truist Financial boosted their target price on shares of International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada raised their price target on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.99.

About International Paper

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.