International Paper (NYSE:IP) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its position in International Paper (NYSE:IP) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,874 shares of the basic materials company’s stock after acquiring an additional 615 shares during the quarter. Atomi Financial Group Inc.’s holdings in International Paper were worth $478,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of International Paper in the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of International Paper during the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in International Paper in the 3rd quarter valued at $28,000. Versant Capital Management Inc increased its stake in International Paper by 313.3% in the 4th quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after buying an additional 448 shares during the period. Finally, City State Bank raised its position in International Paper by 107.7% during the 4th quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now owns 38,345 shares of the company’s stock, valued at $2,051,457.50. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 1,800 shares of company stock valued at $100,848 in the last quarter. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

Shares of NYSE:IP opened at $60.08 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The business’s fifty day moving average price is $56.09 and its two-hundred day moving average price is $51.00. The stock has a market cap of $20.87 billion, a PE ratio of 51.35 and a beta of 1.03. International Paper has a one year low of $32.70 and a one year high of $60.36.

International Paper (NYSE:IP) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. On average, analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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