Kwmg LLC Sells 9,165 Shares of International Paper (NYSE:IP)

Kwmg LLC lessened its holdings in shares of International Paper (NYSE:IP) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,181 shares of the basic materials company’s stock after selling 9,165 shares during the quarter. Kwmg LLC’s holdings in International Paper were worth $7,006,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Quest Partners LLC raised its stake in shares of International Paper by 66,775.0% in the 2nd quarter. Quest Partners LLC now owns 5,350 shares of the basic materials company’s stock valued at $231,000 after acquiring an additional 5,342 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of International Paper by 8.9% in the second quarter. Daiwa Securities Group Inc. now owns 40,505 shares of the basic materials company’s stock worth $1,748,000 after buying an additional 3,304 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of International Paper by 24.2% during the 2nd quarter. American Century Companies Inc. now owns 454,376 shares of the basic materials company’s stock worth $19,606,000 after buying an additional 88,582 shares during the period. Oppenheimer & Co. Inc. grew its stake in International Paper by 2.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 82,495 shares of the basic materials company’s stock valued at $3,560,000 after buying an additional 2,054 shares during the last quarter. Finally, Meeder Advisory Services Inc. bought a new position in International Paper in the 2nd quarter worth $252,000. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the transaction, the director now directly owns 38,345 shares in the company, valued at approximately $2,051,457.50. This represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 2,400 shares of company stock worth $129,696. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

International Paper Price Performance

Shares of NYSE:IP traded down $0.24 during trading on Monday, reaching $53.85. The stock had a trading volume of 2,831,266 shares, compared to its average volume of 3,694,373. The stock has a market capitalization of $18.71 billion, a PE ratio of 46.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. International Paper has a 52 week low of $32.70 and a 52 week high of $60.36. The business’s 50-day moving average price is $56.22 and its 200 day moving average price is $50.26.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts predict that International Paper will post 1.18 earnings per share for the current year.

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.