Friedenthal Financial Takes $50,000 Position in International Paper (NYSE:IP)

Friedenthal Financial purchased a new position in shares of International Paper (NYSE:IP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 931 shares of the basic materials company’s stock, valued at approximately $50,000.

Several other large investors also recently bought and sold shares of IP. Brooklyn Investment Group purchased a new stake in International Paper in the third quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the 3rd quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new position in International Paper in the third quarter valued at about $28,000. Versant Capital Management Inc boosted its stake in International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock worth $32,000 after buying an additional 448 shares during the period. Finally, City State Bank raised its stake in shares of International Paper by 107.7% in the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 0.4 %

Shares of International Paper stock opened at $53.85 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. International Paper has a 52-week low of $32.70 and a 52-week high of $60.36. The company has a market capitalization of $18.71 billion, a P/E ratio of 46.03 and a beta of 1.03. The company has a 50 day moving average of $56.17 and a 200 day moving average of $50.33.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.70 billion. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the transaction, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. This represents a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 1,800 shares of company stock worth $100,848. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IP shares. Truist Financial lifted their target price 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. Royal Bank of Canada lifted their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.99.

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.