International Paper (NYSE:IP) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. reduced its stake in shares of International Paper (NYSE:IP) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,145 shares of the basic materials company’s stock after selling 3,600 shares during the period. Flputnam Investment Management Co.’s holdings in International Paper were worth $3,331,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in International Paper by 4.0% in the 1st quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock worth $1,331,687,000 after acquiring an additional 1,436,757 shares during the period. State Street Corp grew its stake in shares of International Paper by 0.9% during the 1st quarter. State Street Corp now owns 24,364,091 shares of the basic materials company’s stock valued at $1,124,403,000 after buying an additional 218,754 shares during the period. Greenhaven Associates Inc. grew its stake in shares of International Paper by 0.3% during the 4th quarter. Greenhaven Associates Inc. now owns 9,835,395 shares of the basic materials company’s stock valued at $355,550,000 after buying an additional 25,640 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of International Paper by 13.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,811,752 shares of the basic materials company’s stock valued at $312,553,000 after buying an additional 1,011,315 shares during the period. Finally, Morgan Stanley grew its stake in shares of International Paper by 7.6% during the 4th quarter. Morgan Stanley now owns 5,839,269 shares of the basic materials company’s stock valued at $202,214,000 after buying an additional 413,320 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE IP traded down $0.39 on Tuesday, hitting $36.38. The stock had a trading volume of 1,899,252 shares, compared to its average volume of 4,522,587. International Paper has a one year low of $29.00 and a one year high of $41.28. 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 stock has a market cap of $12.64 billion, a price-to-earnings ratio of 44.84 and a beta of 0.99. The company’s 50-day moving average is $36.64 and its two-hundred day moving average is $35.84.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. International Paper had a net margin of 1.52% and a return on equity of 8.87%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.87 earnings per share. On average, analysts expect that International Paper will post 1.88 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on IP shares. Truist Financial reissued a “buy” rating and set a $40.00 price objective on shares of International Paper in a research note on Wednesday, March 20th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and upped their price target for the stock from $37.00 to $42.00 in a research report on Monday, March 4th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Wells Fargo & Company decreased their price target on shares of 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, StockNews.com cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.13.

Insider Activity

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. Insiders sold 8,200 shares of company stock worth $287,770 over the last three months. 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.