KLCM Advisors Inc. Reduces Stock Position in International Paper (NYSE:IP)

KLCM Advisors Inc. lowered its holdings in shares of International Paper (NYSE:IP) by 7.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 71,210 shares of the basic materials company’s stock after selling 6,000 shares during the quarter. KLCM Advisors Inc.’s holdings in International Paper were worth $2,574,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of International Paper by 97.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 506,153 shares of the basic materials company’s stock worth $18,297,000 after buying an additional 249,804 shares during the period. Mackenzie Financial Corp raised its position in shares of International Paper by 263.1% in the 4th quarter. Mackenzie Financial Corp now owns 114,824 shares of the basic materials company’s stock worth $4,151,000 after acquiring an additional 83,203 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of International Paper in the 4th quarter worth $756,000. Sapient Capital LLC bought a new position in shares of International Paper in the 4th quarter worth $1,461,000. Finally, Cerity Partners LLC raised its position in shares of International Paper by 1,323.6% in the 4th quarter. Cerity Partners LLC now owns 172,005 shares of the basic materials company’s stock worth $6,218,000 after acquiring an additional 159,923 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 8,800 shares of company stock valued at $310,438. 0.55% of the stock is owned by insiders.

International Paper Stock Performance

Shares of International Paper stock traded down $0.86 on Wednesday, reaching $35.91. 8,615,440 shares of the stock were exchanged, compared to its average volume of 6,061,582. International Paper has a twelve month low of $29.00 and a twelve month high of $41.28. The business has a 50 day moving average price of $36.70 and a two-hundred day moving average price of $35.84. The company has a quick ratio of 1.19, a current ratio of 1.67 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 43.79 and a beta of 0.99.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts anticipate that International Paper will post 1.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IP has been the subject of several recent research reports. Truist Financial reissued a “buy” rating and issued a $40.00 price target on shares of International Paper in a research report on Wednesday, March 20th. Bank of America raised International Paper from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Argus lowered International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wells Fargo & Company reduced their price target on 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price target on shares of International Paper in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.13.

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.