International Paper Company $IP Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its stake in shares of International Paper Company (NYSE:IP) by 61.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,111 shares of the basic materials company’s stock after selling 53,261 shares during the period. Daymark Wealth Partners LLC’s holdings in International Paper were worth $1,304,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in International Paper during the second quarter worth $33,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of International Paper in the second quarter valued at $35,000. Kelleher Financial Advisors purchased a new stake in shares of International Paper in the 3rd quarter valued at $36,000. CYBER HORNET ETFs LLC purchased a new stake in shares of International Paper in the 2nd quarter valued at $43,000. Finally, City Holding Co. acquired a new position in International Paper during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $36.43 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.28 and a quick ratio of 1.02. The company has a market cap of $19.29 billion, a price-to-earnings ratio of -5.43 and a beta of 1.09. The stock’s 50-day moving average is $42.22 and its two-hundred day moving average is $42.12. International Paper Company has a 1-year low of $33.57 and a 1-year high of $56.13.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.36). International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the previous year, the business posted ($0.02) EPS. The business’s quarterly revenue was up 53.1% compared to the same quarter last year. Analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a report on Monday, December 29th. Stifel Nicolaus cut their price target on shares of International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a research note on Monday, February 9th. Jefferies Financial Group increased their price target on shares of International Paper from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Truist Financial set a $48.00 price objective on shares of International Paper in a research note on Thursday, February 26th. Finally, Citigroup increased their target price on shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.06.

Insider Activity at International Paper

In other news, CEO Andrew K. Silvernail purchased 50,000 shares of the stock in a transaction on Friday, January 30th. The stock was bought at an average price of $39.98 per share, for a total transaction of $1,999,000.00. Following the acquisition, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at approximately $1,999,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anders Gustafsson acquired 13,217 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the transaction, the director owned 26,092 shares in the company, valued at approximately $987,060.36. The trade was a 102.66% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 76,092 shares of company stock worth $2,999,064. 0.35% of the stock is owned by corporate insiders.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.