International Paper (NYSE:IP) Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP increased its stake in shares of International Paper (NYSE:IP) by 290.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 817,174 shares of the basic materials company’s stock after acquiring an additional 608,123 shares during the period. Artemis Investment Management LLP owned approximately 0.24% of International Paper worth $39,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its position in shares of International Paper by 20.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,396 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 239 shares in the last quarter. Retirement Systems of Alabama grew its holdings in International Paper by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock worth $3,306,000 after acquiring an additional 246 shares in the last quarter. Czech National Bank grew its holdings in International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after acquiring an additional 295 shares in the last quarter. Altrius Capital Management Inc increased its position in shares of International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 296 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in shares of International Paper by 4.2% during the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after purchasing an additional 318 shares during 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 news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the completion of the sale, the director now owns 41,602 shares of the company’s stock, valued at approximately $1,924,508.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the transaction, the director now owns 41,602 shares in the company, valued at $1,924,508.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total transaction of $115,412.00. Following the completion of the transaction, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,440 shares of company stock valued at $931,502. 0.55% of the stock is currently owned by company insiders.

International Paper Stock Performance

IP opened at $47.36 on Wednesday. The company has a market cap of $16.45 billion, a PE ratio of 96.64 and a beta of 1.04. International Paper has a 52-week low of $31.76 and a 52-week high of $50.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The stock has a 50-day moving average of $47.56 and a 200-day moving average of $43.68.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.59 EPS. International Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

IP has been the topic of several research analyst reports. Truist Financial raised their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted their target price on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price target on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.21.

International Paper Company 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.