Daymark Wealth Partners LLC Purchases 5,073 Shares of International Paper (NYSE:IP)

Daymark Wealth Partners LLC boosted its position in International Paper (NYSE:IP) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,943 shares of the basic materials company’s stock after purchasing an additional 5,073 shares during the period. Daymark Wealth Partners LLC’s holdings in International Paper were worth $4,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in IP. Brooklyn Investment Group bought a new stake in shares of International Paper during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in International Paper in the third quarter worth $28,000. Ashton Thomas Securities LLC bought a new stake in shares of International Paper during the third quarter worth $28,000. Versant Capital Management Inc boosted its stake in shares of International Paper by 313.3% during the fourth quarter. Versant Capital Management Inc now owns 591 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 448 shares during the period. Finally, City State Bank grew its holdings in shares of International Paper by 107.7% in the fourth quarter. City State Bank now owns 675 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $56.19, for a total transaction of $33,714.00. Following the sale, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 1,800 shares of company stock valued at $100,848. 0.55% of the stock is currently owned by corporate insiders.

International Paper Price Performance

Shares of IP stock opened at $58.38 on Wednesday. International Paper has a 1-year low of $32.70 and a 1-year high of $60.36. The company has a market cap of $20.28 billion, a P/E ratio of 49.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The stock’s 50-day moving average is $56.02 and its 200 day moving average is $50.89.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IP shares. Truist Financial lifted their price objective on shares of International Paper from $61.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 6th. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday, November 13th. Finally, Royal Bank of Canada raised their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average price target of $51.99.

About International Paper

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.