Several investors and hedge funds have recently bought or sold shares of International Paper (IP). Bridgefront Capital increased its stake by 103%, now owning 14,729 shares valued at $532,000. Quarry LP raised its holdings by 317.5%, owning 1,528 shares worth $55,000. V Square Quantitative Management lifted its position by 99.4% to 17,674 shares valued at $639,000. Neo Ivy Capital Management also acquired a new stake worth $80,000. Royal London Asset Management increased its shares by 4.5% to 279,590, valued at $10.1 million. In total, institutional investors own 81.95% of the company.
Insider Transactions
Director Kathryn D. Sullivan sold 600 shares on July 31 for $27,756, reducing her holdings to 41,602 shares worth $1.9 million. Senior VP Joseph R. Saab sold 2,440 shares on September 12 for $115,412, leaving him with 18,668 shares valued at $883,000. In the last 90 days, insiders sold 19,440 shares totaling $931,502, and currently, insiders hold 0.55% of the stock.
IP Stock Performance
On Thursday, IP stock opened at $47.10. It has a market cap of $16.36 billion and a P/E ratio of 96.12. The stock has a 12-month low of $31.76 and a high of $50.68. Last quarter, the company reported earnings per share (EPS) of $0.55, which surpassed estimates of $0.41.
Analyst Ratings
Analysts have been positive about IP. Seaport Res Ptn upgraded it to strong-buy. Truist Financial raised their price target from $52 to $55, and Royal Bank of Canada upped theirs from $52 to $56. Currently, analysts have rated it a Moderate Buy with an average target price of $50.21.
About International Paper
International Paper produces renewable fiber-based packaging and pulp products globally, specializing in a variety of materials for personal care products and industrial applications.
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